Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares of the company's stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Live Nation Entertainment Stock Performance
Live Nation Entertainment stock traded down $7.41 during midday trading on Thursday, reaching $115.51. 5,976,729 shares of the company's stock were exchanged, compared to its average volume of 2,141,802. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock's 50-day simple moving average is $140.00 and its 200 day simple moving average is $126.32. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 42.47, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. On average, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on LYV shares. Citigroup upped their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Roth Mkm upped their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Rosenblatt Securities reaffirmed a "buy" rating and set a $146.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Finally, Bank of America boosted their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $157.27.
Check Out Our Latest Research Report on Live Nation Entertainment
Institutional Trading of Live Nation Entertainment
Hedge funds and other institutional investors have recently modified their holdings of the stock. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after acquiring an additional 3,168,210 shares in the last quarter. Groupama Asset Managment acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $259,000,000. Norges Bank acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $255,955,000. ValueAct Holdings L.P. bought a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $111,094,000. Finally, PointState Capital LP acquired a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $102,762,000. Institutional investors own 74.52% of the company's stock.
Live Nation Entertainment Company Profile
(
Get Free Report)
Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.
See Also
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