Shares of Live Nation Entertainment, Inc. (NYSE:LYV) gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $46.75, but opened at $45.34. Live Nation Entertainment shares last traded at $43.97, with a volume of 2483711 shares traded.
Specifically, EVP Michael Rowles sold 46,511 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $43.35, for a total value of $2,016,251.85. Following the completion of the transaction, the executive vice president now directly owns 192,054 shares in the company, valued at approximately $8,325,540.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Capo sold 7,500 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the transaction, the insider now owns 13,354 shares of the company’s stock, valued at $540,837. The disclosure for this sale can be found here. Insiders sold a total of 524,011 shares of company stock worth $23,506,002 over the last 90 days. Corporate insiders own 4.77% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Macquarie reiterated a “buy” rating and issued a $48.00 price objective on shares of Live Nation Entertainment in a report on Sunday, November 5th. Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, October 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of Live Nation Entertainment in a report on Monday, October 16th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Finally, Stephens reiterated an “overweight” rating and issued a $44.00 price objective (up from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.86.
The company has a market cap of $9,380.00, a price-to-earnings ratio of 2,267.00 and a beta of 1.06. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11.
Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. equities research analysts anticipate that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of LYV. Assetmark Inc. purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $134,000. Massey Quick Simon & CO. LLC purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $167,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Live Nation Entertainment by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after acquiring an additional 445 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $209,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in Live Nation Entertainment during the 2nd quarter valued at about $210,000. Institutional investors own 68.67% of the company’s stock.
WARNING: This report was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2017/11/21/live-nation-entertainment-inc-lyv-shares-gap-down-on-insider-selling.html.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
Receive News & Ratings for Live Nation Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.