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

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 value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at $55,255,395. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV traded down $0.06 during trading hours on Thursday, hitting $97.27. The stock had a trading volume of 1,647,811 shares, compared to its average volume of 2,101,374. The stock’s fifty day simple moving average is $94.82 and its 200 day simple moving average is $95.86. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 92.64, a PEG ratio of 2.21 and a beta of 1.34. 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 1-year low of $76.48 and a 1-year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last announced its 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 for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm earned $1.02 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mystic Asset Management Inc. boosted its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares in the last quarter. Czech National Bank lifted its holdings in shares of Live Nation Entertainment by 0.5% in the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after buying an additional 115 shares during the period. Lindbrook Capital LLC boosted its stake in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after buying an additional 119 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in Live Nation Entertainment by 3.2% during the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock worth $360,000 after acquiring an additional 120 shares during the period. Finally, Baker Tilly Wealth Management LLC raised its position in Live Nation Entertainment by 5.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock worth $237,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LYV. Macquarie reaffirmed an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Benchmark reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Roth Mkm restated a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Friday, May 24th. Finally, Oppenheimer boosted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.46.

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.