Jeffrey T. Hinson Sells 500 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Live Nation Entertainment Stock Up 3.0 %

Live Nation Entertainment stock opened at $119.25 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $27.83 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The business has a fifty day moving average price of $139.52 and a 200-day moving average price of $126.41.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

LYV has been the topic of several research analyst reports. The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America increased their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Macquarie increased their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.27.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 350,497 shares of the company’s stock valued at $38,376,000 after buying an additional 6,512 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Live Nation Entertainment by 7.4% in the 3rd quarter. Metis Global Partners LLC now owns 5,073 shares of the company’s stock valued at $555,000 after buying an additional 350 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Live Nation Entertainment by 14.9% in the 3rd quarter. CIBC Asset Management Inc now owns 24,916 shares of the company’s stock valued at $2,728,000 after buying an additional 3,231 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of Live Nation Entertainment by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.