Jeffrey Hinson Sells 944 Shares of Live Nation Entertainment (NYSE:LYV) Stock

Key Points

• Jeffrey Hinson sold 944 shares of Live Nation on March 10 at an average price of $165.87 for about $156,581, leaving him with 48,030 shares (a 1.93% reduction) as disclosed in an SEC filing.
• The company reported Q4 EPS of -$1.06, missing estimates by $0.06 while revenue rose 11.1% year-over-year to $6.31 billion and slightly beat consensus, highlighting stronger top-line growth but weaker earnings.
• Shares traded down about 3.6% to $159.90 amid the news; analysts maintain a "Moderate Buy" consensus with a $184.40 average price target.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) Director Jeffrey Hinson sold 944 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Live Nation Entertainment Stock Down 3.6%

Shares of LYV traded down $5.93 during mid-day trading on Thursday, reaching $159.90. The company had a trading volume of 3,147,425 shares, compared to its average volume of 3,052,092. The firm has a 50-day moving average price of $150.83 and a 200 day moving average price of $150.44. The company has a market capitalization of $37.55 billion, a price-to-earnings ratio of -666.27 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

LYV has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Wall Street Zen raised Live Nation Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Moffett Nathanson cut their price objective on shares of Live Nation Entertainment from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, January 22nd. Finally, Bank of America boosted their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $184.40.

Institutional Trading of Live Nation Entertainment

A number of large investors have recently added to or reduced their stakes in LYV. Clearstead Trust LLC lifted its holdings in shares of Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company's stock valued at $25,000 after purchasing an additional 136 shares in the last quarter. Ameriflex Group Inc. lifted its position in Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after acquiring an additional 84 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter worth $26,000. Finally, Atwood & Palmer Inc. acquired a new position in Live Nation Entertainment during the third quarter valued at approximately $33,000. 74.52% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.