Live Nation Entertainment, Inc. (LYV) CEO Michael Rapino Sells 70,000 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 70,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $44.93, for a total transaction of $3,145,100.00. Following the completion of the sale, the chief executive officer now directly owns 185,277 shares of the company’s stock, valued at approximately $8,324,495.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Michael Rapino also recently made the following trade(s):

  • On Wednesday, November 29th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $46.28, for a total transaction of $3,239,600.00.
  • On Friday, December 1st, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.59, for a total transaction of $9,573,900.00.
  • On Friday, November 17th, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.14, for a total transaction of $9,479,400.00.
  • On Friday, November 10th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $44.93, for a total transaction of $3,145,100.00.
  • On Wednesday, November 8th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $45.46, for a total transaction of $3,182,200.00.

Live Nation Entertainment, Inc. (LYV) traded down $1.04 during mid-day trading on Monday, hitting $43.66. The stock had a trading volume of 2,898,079 shares, compared to its average volume of 1,444,942. The firm has a market capitalization of $9,243.96, a P/E ratio of 2,235.00 and a beta of 1.05. Live Nation Entertainment, Inc. has a 1-year low of $26.41 and a 1-year high of $46.99. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. equities research analysts expect that Live Nation Entertainment, Inc. will post 0.18 EPS for the current fiscal year.

Several brokerages have recently weighed in on LYV. Stephens reaffirmed an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. Jefferies Group upped their target price on shares of Live Nation Entertainment from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Macquarie restated a “buy” rating and set a $48.00 target price on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $42.86.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Live Nation Entertainment by 4.3% in the second quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock valued at $378,695,000 after buying an additional 451,457 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Live Nation Entertainment by 8,038.5% in the third quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock valued at $252,002,000 after buying an additional 5,715,400 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Live Nation Entertainment by 2.4% in the second quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock valued at $181,234,000 after buying an additional 120,428 shares in the last quarter. State Street Corp increased its position in shares of Live Nation Entertainment by 2.8% in the second quarter. State Street Corp now owns 3,497,318 shares of the company’s stock valued at $121,878,000 after buying an additional 95,764 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Live Nation Entertainment during the 2nd quarter worth about $109,693,000. Institutional investors and hedge funds own 68.09% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Live Nation Entertainment (NYSE:LYV)

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