Live Nation Entertainment, Inc. (LYV) COO Joe Berchtold Sells 20,000 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) COO Joe Berchtold sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $45.43, for a total transaction of $908,600.00. Following the completion of the transaction, the chief operating officer now owns 117,918 shares in the company, valued at $5,357,014.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Live Nation Entertainment, Inc. (NYSE LYV) opened at $44.93 on Tuesday. The company has a market cap of $9,258.43, a price-to-earnings ratio of 2,238.50 and a beta of 1.07. Live Nation Entertainment, Inc. has a 52-week low of $26.41 and a 52-week high of $45.72. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. analysts anticipate that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current fiscal year.

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LYV has been the topic of several recent research reports. William Blair initiated coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They issued an “outperform” rating on the stock. Stephens reiterated an “overweight” rating and issued a $44.00 price target (up from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 10th. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research report on Friday, August 11th. Finally, Jefferies Group LLC restated a “buy” rating and set a $42.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average target price of $42.86.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Chicago Equity Partners LLC bought a new stake in Live Nation Entertainment in the 2nd quarter valued at $3,674,000. The Manufacturers Life Insurance Company increased its holdings in Live Nation Entertainment by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 198,179 shares of the company’s stock valued at $6,906,000 after acquiring an additional 5,319 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Live Nation Entertainment by 8.2% in the 3rd quarter. Fisher Asset Management LLC now owns 453,765 shares of the company’s stock valued at $19,761,000 after acquiring an additional 34,434 shares during the last quarter. BB&T Corp increased its holdings in Live Nation Entertainment by 2.8% in the 3rd quarter. BB&T Corp now owns 177,974 shares of the company’s stock valued at $7,751,000 after acquiring an additional 4,895 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Live Nation Entertainment by 24.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,457,085 shares of the company’s stock valued at $50,780,000 after acquiring an additional 287,319 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Insider Buying and Selling by Quarter for Live Nation Entertainment (NYSE:LYV)

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