Insider Selling: Live Nation Entertainment, Inc. (NYSE:LYV) CAO Sells $624,333.84 in Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CAO Brian Capo sold 5,066 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $119.25 on Friday. The firm’s fifty day moving average price is $139.52 and its 200-day moving average price is $126.62. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $27.83 billion, a P/E ratio of 43.84, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the 4th quarter worth $29,000. Brooklyn Investment Group purchased a new position in Live Nation Entertainment in the 3rd quarter worth $31,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment in the 4th quarter worth $40,000. Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment in the 4th quarter worth $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Live Nation Entertainment in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LYV. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Citigroup raised their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

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.