Insider Selling: Live Nation Entertainment (NYSE:LYV) CAO Sells 2,900 Shares of Stock

Key Points

• Live Nation CAO Brian Capo sold 2,900 shares at an average price of $184, generating $533,600; his remaining stake fell 25.1% to 8,655 shares.
• Live Nation shares rose to $186.48, near their 52-week high of $189.24, while the company reported quarterly EPS of $1.05 and revenue of $7.67 billion, both above analyst expectations.
• Analysts remain broadly positive, with 20 Buy ratings and four Holds; the stock has a “Moderate Buy” consensus and an average price target of $197.19.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) CAO Brian Capo sold 2,900 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares of the company's stock, valued at approximately $1,592,520. This represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded up $1.89 during trading on Tuesday, hitting $186.48. 1,442,286 shares of the stock were exchanged, compared to its average volume of 2,674,828. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a fifty day moving average price of $180.38 and a 200-day moving average price of $166.77. The stock has a market capitalization of $43.94 billion, a price-to-earnings ratio of -165.03 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business had revenue of $7.67 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the company posted $0.41 earnings per share. Live Nation Entertainment's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. UBS Group upped their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Citizens Jmp increased their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a "market outperform" rating in a report on Wednesday, July 22nd. Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Finally, Zacks Research raised shares of Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 17th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $197.19.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds have recently bought and sold shares of LYV. Bessemer Group Inc. boosted its position in Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock valued at $262,733,000 after buying an additional 759,363 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock valued at $610,707,000 after acquiring an additional 20,165 shares during the last quarter. Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $626,000. CenterBook Partners LP increased its holdings in Live Nation Entertainment by 780.1% in the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company's stock worth $3,155,000 after purchasing an additional 19,627 shares in the last quarter. Finally, Troluce Capital Advisors LLC bought a new position in Live Nation Entertainment in the first quarter valued at about $50,328,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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