Joe Berchtold Sells 29,310 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Live Nation Entertainment Trading Up 1.6 %

Live Nation Entertainment stock opened at $98.85 on Friday. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The stock has a market cap of $22.71 billion, a P/E ratio of 94.14, a PEG ratio of 2.29 and a beta of 1.34. The firm’s fifty day moving average price is $94.89 and its 200-day moving average price is $95.91.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the business earned $1.02 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LYV shares. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Benchmark restated a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Roth Mkm restated a “buy” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Friday, May 24th. Finally, Bank of America began coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.46.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors have recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new position in shares of Live Nation Entertainment during the first quarter worth approximately $32,000. Rise Advisors LLC boosted its position in Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Live Nation Entertainment by 44.1% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after acquiring an additional 119 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Company Profile

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.