Live Nation Entertainment, Inc. (NYSE:LYV) EVP John Hopmans Sells 34,808 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) EVP John Hopmans sold 34,808 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the sale, the executive vice president now directly owns 189,456 shares in the company, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Live Nation Entertainment Price Performance

NYSE:LYV traded down $1.97 during trading hours on Tuesday, hitting $146.33. 1,763,504 shares of the stock were exchanged, compared to its average volume of 2,241,016. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a market cap of $33.92 billion, a P/E ratio of 53.80, a P/E/G ratio of 1.81 and a beta of 1.47. The firm’s fifty day moving average price is $129.91 and its 200 day moving average price is $134.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Macquarie increased their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Susquehanna began coverage on Live Nation Entertainment in a report on Monday, April 28th. They set a “positive” rating and a $155.00 price target for the company. Bank of America boosted their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Finally, Roth Mkm lowered their target price on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $162.07.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of LYV. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $29,000. Wayfinding Financial LLC acquired a new position in shares of Live Nation Entertainment in the first quarter worth $30,000. Chilton Capital Management LLC acquired a new position in shares of Live Nation Entertainment during the 1st quarter valued at about $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth about $40,000. Finally, Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment during the fourth quarter worth $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.