Michael Rapino Sells 98,849 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $98.85 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24. The stock’s 50-day moving average is $94.89 and its 200 day moving average is $95.91. The company 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 company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last issued 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). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS. Research analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Roth Mkm restated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Morgan Stanley restated an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.46.

Institutional Investors Weigh In On Live Nation Entertainment

Large investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in Live Nation Entertainment in the 1st quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 acquiring an additional 202 shares during the period. Rise Advisors LLC increased its stake in shares of Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after acquiring an additional 159 shares during the period. Lindbrook Capital LLC increased its stake in shares of Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors 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.