Michael Rowles Sells 63,136 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Live Nation Entertainment Price Performance

NYSE LYV traded down $2.60 during trading on Wednesday, hitting $141.86. 3,951,464 shares of the company’s stock were exchanged, compared to its average volume of 2,139,840. The company has a market cap of $32.96 billion, a PE ratio of 52.15, a P/E/G ratio of 1.81 and a beta of 1.38. 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, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The stock’s 50 day moving average price is $139.69 and its two-hundred day moving average price is $123.56.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.67 billion. Research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Independent Franchise Partners LLP grew its position in 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 worth $607,871,000 after acquiring an additional 3,168,210 shares during the last quarter. Groupama Asset Managment bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $259,000,000. Norges Bank acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $255,955,000. ValueAct Holdings L.P. acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $111,094,000. Finally, PointState Capital LP acquired a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $102,762,000. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Macquarie lifted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. TD Cowen boosted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Finally, Evercore ISI boosted their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $156.00.

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.