Jeffrey Hinson Sells 944 Shares of Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey Hinson sold 944 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the transaction, the director directly owned 48,030 shares of the company’s stock, valued at $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Live Nation Entertainment Price Performance

NYSE LYV opened at $154.14 on Friday. The firm’s 50 day moving average is $151.35 and its 200-day moving average is $150.42. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The company has a market capitalization of $36.19 billion, a PE ratio of -642.25 and a beta of 1.11. Live Nation Entertainment, Inc. has a 12-month low of $113.20 and a 12-month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the business posted $0.58 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LYV. UBS Group lifted their target price on Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Weiss Ratings raised Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Finally, Moffett Nathanson cut their price objective on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $184.40.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC increased its holdings in shares of Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after purchasing an additional 75 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. boosted its holdings in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after buying an additional 80 shares during the period. Private Trust Co. NA grew its stake in Live Nation Entertainment by 24.4% in the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock valued at $68,000 after buying an additional 82 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in Live Nation Entertainment by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.