Stock Traders Purchase High Volume of Live Nation Entertainment Call Options (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) was the target of unusually large options trading activity on Wednesday. Traders bought 2,151 call options on the company. This is an increase of approximately 1,196% compared to the average daily volume of 166 call options.

Several research analysts have recently weighed in on LYV shares. Zacks Investment Research cut shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Citigroup cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Friday, December 22nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Jefferies Group restated a “buy” rating and set a $42.00 target price on shares of Live Nation Entertainment in a research note on Monday, October 16th. Finally, Macquarie restated a “buy” rating and set a $48.00 target price on shares of Live Nation Entertainment in a research note on Sunday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment has a consensus rating of “Buy” and an average price target of $44.00.

Live Nation Entertainment (NYSE:LYV) opened at $44.43 on Monday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. Live Nation Entertainment has a one year low of $27.17 and a one year high of $46.99. The firm has a market cap of $9,188.12, a price-to-earnings ratio of 2,222.61 and a beta of 1.06.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.36 billion. Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. research analysts expect that Live Nation Entertainment will post 0.14 earnings per share for the current year.

In other Live Nation Entertainment news, CEO Michael Rapino sold 70,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $42.87, for a total value of $3,000,900.00. Following the completion of the sale, the chief executive officer now owns 115,277 shares of the company’s stock, valued at approximately $4,941,924.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Joe Berchtold sold 20,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $46.55, for a total transaction of $931,000.00. Following the transaction, the chief operating officer now owns 77,918 shares in the company, valued at approximately $3,627,082.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,106,511 shares of company stock valued at $49,467,752. 4.77% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in LYV. Schwab Charles Investment Management Inc. lifted its stake in Live Nation Entertainment by 24.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,457,085 shares of the company’s stock worth $50,780,000 after purchasing an additional 287,319 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in Live Nation Entertainment by 1.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 26,701 shares of the company’s stock worth $931,000 after purchasing an additional 490 shares in the last quarter. Legal & General Group Plc lifted its stake in Live Nation Entertainment by 10.3% in the 2nd quarter. Legal & General Group Plc now owns 180,555 shares of the company’s stock worth $6,293,000 after purchasing an additional 16,866 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Live Nation Entertainment by 0.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 160,148 shares of the company’s stock worth $5,581,000 after purchasing an additional 770 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in Live Nation Entertainment by 6.4% in the 2nd quarter. Federated Investors Inc. PA now owns 83,024 shares of the company’s stock worth $2,893,000 after purchasing an additional 4,974 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

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Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

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