Live Nation Entertainment (NYSE:LYV) EVP Michael Rowles Sells 63,776 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock traded down $2.84 during mid-day trading on Friday, hitting $162.91. The company’s stock had a trading volume of 3,571,340 shares, compared to its average volume of 3,009,708. The stock has a market capitalization of $38.37 billion, a P/E ratio of -92.04 and a beta of 1.11. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25. The stock’s fifty day moving average price is $157.51 and its two-hundred day moving average price is $148.70. The company has a quick ratio of 1.00, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) EPS. Research analysts forecast that Live Nation Entertainment, Inc. will post 1.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wells Fargo & Company decreased their price objective on shares of Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating for the company in a research note on Wednesday. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Rothschild & Co Redburn raised their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday. Finally, The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.75.

Institutional Trading of Live Nation Entertainment

A number of hedge funds have recently made changes to their positions in LYV. Leonteq Securities AG purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $25,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. lifted its position in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $30,000. Finally, DV Equities LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $31,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

About Live Nation Entertainment

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.