Michael Rapino Sells 78,000 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) CEO Michael Rapino sold 78,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $92.66, for a total transaction of $7,227,480.00. Following the transaction, the chief executive officer now directly owns 3,711,273 shares in the company, valued at approximately $343,886,556.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Rapino also recently made the following trade(s):

  • On Thursday, September 8th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $90.88, for a total transaction of $7,088,640.00.

Live Nation Entertainment Price Performance

NYSE LYV opened at $87.43 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $79.50 and a 12 month high of $127.75. The company has a debt-to-equity ratio of 146.87, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $20.11 billion, a PE ratio of -174.86 and a beta of 1.32. The company’s 50 day simple moving average is $92.26 and its 200 day simple moving average is $96.96.

Live Nation Entertainment (NYSE:LYVGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business earned ($0.90) EPS. Live Nation Entertainment’s revenue was up 669.9% compared to the same quarter last year. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Benchmark raised their target price on shares of Live Nation Entertainment to $140.00 in a report on Monday, August 15th. Citigroup raised their target price on shares of Live Nation Entertainment from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Wolfe Research cut their target price on shares of Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating on the stock in a report on Thursday, June 2nd. TheStreet raised Live Nation Entertainment from a “d+” rating to a “c-” rating in a report on Wednesday, August 10th. Finally, Macquarie raised Live Nation Entertainment from a “neutral” rating to an “outperform” rating and cut their price target for the company from $117.00 to $105.00 in a report on Tuesday, July 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.10.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rafferty Asset Management LLC grew its position in Live Nation Entertainment by 6.1% in the fourth quarter. Rafferty Asset Management LLC now owns 11,012 shares of the company’s stock worth $1,318,000 after buying an additional 630 shares during the last quarter. Rhumbline Advisers grew its position in Live Nation Entertainment by 6.0% in the fourth quarter. Rhumbline Advisers now owns 215,870 shares of the company’s stock worth $25,837,000 after buying an additional 12,232 shares during the last quarter. Private Advisor Group LLC grew its position in Live Nation Entertainment by 17.2% in the fourth quarter. Private Advisor Group LLC now owns 11,987 shares of the company’s stock worth $1,435,000 after buying an additional 1,762 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Live Nation Entertainment by 253.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 56,448 shares of the company’s stock worth $6,757,000 after buying an additional 40,486 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Live Nation Entertainment by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 765,744 shares of the company’s stock worth $91,652,000 after buying an additional 30,449 shares during the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.

About Live Nation Entertainment

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Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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