Live Nation Entertainment (NYSE:LYV) Stock: Insider Michael Rapino Sells 195,578 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 195,578 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $181.03, for a total transaction of $35,405,485.34. Following the completion of the transaction, the chief executive officer owned 4,188,167 shares in the company, valued at approximately $758,183,872.01. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Live Nation Entertainment Stock Down 0.8%

NYSE:LYV traded down $1.36 during trading hours on Friday, reaching $178.78. The company’s stock had a trading volume of 2,093,568 shares, compared to its average volume of 2,544,795. The business’s 50-day moving average is $172.79 and its 200-day moving average is $168.12. The company has a debt-to-equity ratio of 6.64, a current ratio of 0.95 and a quick ratio of 0.95. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The company has a market cap of $42.14 billion, a price-to-earnings ratio of -1,049.63 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Live Nation Entertainment had a net margin of 0.38% and a return on equity of 55.62%. The firm had revenue of $10.11 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue was up 18.9% on a year-over-year basis. Equities research analysts predict that Live Nation Entertainment, Inc. will post 1.06 EPS for the current year.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $626,000. Maven Securities LTD bought a new position in shares of Live Nation Entertainment in the second quarter worth approximately $2,283,000. WINTON GROUP Ltd bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $1,115,000. Troluce Capital Advisors LLC purchased a new stake in Live Nation Entertainment in the first quarter worth about $50,328,000. Finally, Visualize Group LP purchased a new position in shares of Live Nation Entertainment during the 1st quarter worth approximately $14,934,000. 74.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Cfra lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 20th. JPMorgan Chase & Co. decreased their price target on Live Nation Entertainment from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, November 6th. Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. BTIG Research reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Thursday. Finally, TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.14.

Live Nation Entertainment Company Profile

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.