Brian Capo Sells 2,900 Shares of Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Live Nation Entertainment Trading Down 2.1%

Shares of NYSE LYV opened at $182.81 on Thursday. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a 50-day moving average of $180.85 and a two-hundred day moving average of $167.40. The company has a market cap of $43.08 billion, a PE ratio of -161.78 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the business posted $0.41 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Burkett Financial Services LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at $26,000. Transamerica Financial Advisors LLC acquired a new position in Live Nation Entertainment in the second quarter valued at about $27,000. Kilter Group LLC bought a new stake in shares of Live Nation Entertainment in the second quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $27,000. Finally, Leonteq Securities AG bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $25,000. 74.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LYV. Sanford C. Bernstein raised their price target on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Rothschild & Co Redburn raised their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Oppenheimer set a $100.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, July 28th. Citigroup raised their price objective on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Citizens Jmp increased their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 22nd. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.19.

About Live Nation Entertainment

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.