Insider Selling: Live Nation Entertainment (NYSE:LYV) EVP Sells 11,133 Shares of Stock

Key Points

• EVP John Hopmans sold 11,133 Live Nation shares at an average price of $180.50, for about $2.01 million. He retained 163,299 shares after the transaction.
• Live Nation’s latest quarter beat expectations, reporting EPS of $1.69 versus the $1.50 consensus and revenue of $10.11 billion versus $9.60 billion; revenue rose 18.9% year over year.
• Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $203.14.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) EVP John Hopmans sold 11,133 shares of the firm's stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $180.50, for a total transaction of $2,009,506.50. Following the completion of the transaction, the executive vice president directly owned 163,299 shares of the company's stock, valued at approximately $29,475,469.50. This trade represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded down $1.82 during mid-day trading on Friday, reaching $178.32. The company's stock had a trading volume of 3,529,123 shares, compared to its average volume of 2,634,714. The firm's fifty day moving average price is $172.81 and its two-hundred day moving average price is $168.28. The company has a debt-to-equity ratio of 6.64, a quick ratio of 0.95 and a current ratio of 0.95. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The company has a market capitalization of $42.03 billion, a P/E ratio of -1,048.94 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Live Nation Entertainment had a return on equity of 55.62% and a net margin of 0.38%. The firm had revenue of $10.11 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. The business's quarterly revenue was up 18.9% on a year-over-year basis. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LYV. Citigroup restated a "market outperform" rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. BTIG Research reiterated a "buy" rating on shares of Live Nation Entertainment in a research report on Thursday. Guggenheim increased their price target on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Susquehanna cut their price objective on shares of Live Nation Entertainment from $187.00 to $183.00 and set a "neutral" rating for the company in a research report on Tuesday, October 20th. Finally, Weiss Ratings upgraded shares of Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average price target of $203.14.

Institutional Investors Weigh In On Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan lifted its stake in Live Nation Entertainment by 0.3% in the second quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company's stock worth $3,858,000 after purchasing an additional 66 shares during the last quarter. MGO One Seven LLC grew its stake in shares of Live Nation Entertainment by 5.0% during the third quarter. MGO One Seven LLC now owns 1,499 shares of the company's stock valued at $254,000 after buying an additional 72 shares during the last quarter. Morse Asset Management Inc grew its stake in shares of Live Nation Entertainment by 42.9% during the third quarter. Morse Asset Management Inc now owns 250 shares of the company's stock valued at $42,000 after buying an additional 75 shares during the last quarter. Legacy Financial Independent Advisors LLC grew its stake in shares of Live Nation Entertainment by 2.0% during the third quarter. Legacy Financial Independent Advisors LLC now owns 3,915 shares of the company's stock valued at $663,000 after buying an additional 77 shares during the last quarter. Finally, MCF Advisors LLC increased its holdings in shares of Live Nation Entertainment by 7.7% in the second quarter. MCF Advisors LLC now owns 1,188 shares of the company's stock worth $218,000 after buying an additional 85 shares during the period. Institutional investors own 74.52% of the company's stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc. is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events. The company's businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

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