Live Nation Entertainment (NYSE:LYV) CAO Sells 2,900 Shares of Stock

Live Nation Entertainment, Inc. (NYSE:LYVGet Free Report) CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Live Nation Entertainment Trading Up 1.0%

NYSE LYV traded up $1.89 on Tuesday, hitting $186.48. The company’s stock had a trading volume of 1,442,286 shares, compared to its average volume of 2,674,828. The company’s 50-day moving average is $180.38 and its 200 day moving average is $166.77. The firm has a market cap of $43.94 billion, a PE ratio of -165.03 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYVGet Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. The company had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. As a group, analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its position in shares of Live Nation Entertainment by 19,122.8% during the 2nd quarter. California State Teachers Retirement System now owns 44,334,776 shares of the company’s stock worth $8,118,141,000 after buying an additional 44,104,140 shares during the period. Principal Financial Group Inc. boosted its stake in Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Bank of America Corp DE bought a new position in Live Nation Entertainment during the second quarter worth $1,221,398,000. Independent Franchise Partners LLP grew its holdings in Live Nation Entertainment by 3.5% in the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after purchasing an additional 193,104 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Live Nation Entertainment in the second quarter valued at $859,018,000. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LYV. Benchmark increased their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. UBS Group increased their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Sanford C. Bernstein increased their price objective on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Guggenheim boosted their target price on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Check Out Our Latest Stock Report on Live Nation Entertainment

About Live Nation Entertainment

(Get Free Report)

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.

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