Live Nation Entertainment, Inc. (NYSE:LYV) Director Robert Ted Enloe III sold 7,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $54.07, for a total value of $378,490.00. Following the transaction, the director now owns 17,508 shares in the company, valued at $946,657.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Live Nation Entertainment stock traded down $1.24 during trading hours on Monday, reaching $53.47. The stock had a trading volume of 1,207,100 shares, compared to its average volume of 1,533,200. The company has a market cap of $11.04 billion, a price-to-earnings ratio of -111.40 and a beta of 1.05. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $35.94 and a 1 year high of $55.26.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. research analysts anticipate that Live Nation Entertainment, Inc. will post 0.01 EPS for the current year.
Several equities analysts recently weighed in on the company. ValuEngine downgraded Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 28th. Stephens set a $60.00 target price on Live Nation Entertainment and gave the stock a “buy” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 17th. Guggenheim reiterated a “buy” rating and set a $55.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 13th. Finally, Citigroup increased their target price on Live Nation Entertainment from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.21.
Several institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its holdings in shares of Live Nation Entertainment by 27.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock worth $471,581,000 after purchasing an additional 2,096,500 shares during the period. Select Equity Group L.P. purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth about $216,729,000. Northern Trust Corp raised its holdings in shares of Live Nation Entertainment by 0.9% in the 1st quarter. Northern Trust Corp now owns 1,465,264 shares of the company’s stock worth $61,747,000 after purchasing an additional 12,803 shares during the period. Fiera Capital Corp raised its holdings in shares of Live Nation Entertainment by 37.6% in the 1st quarter. Fiera Capital Corp now owns 1,296,515 shares of the company’s stock worth $54,635,000 after purchasing an additional 354,013 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of Live Nation Entertainment by 12.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,068,020 shares of the company’s stock worth $51,874,000 after purchasing an additional 114,281 shares during the period. Institutional investors own 70.94% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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