Michael Rapino Sells 70,000 Shares of Live Nation Entertainment, Inc. (LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $45.46, for a total value of $3,182,200.00. Following the sale, the chief executive officer now owns 395,277 shares of the company’s stock, valued at $17,969,292.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Friday, November 10th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $44.93, for a total value of $3,145,100.00.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at $46.16 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $9,291.52, a P/E ratio of 2,246.50 and a beta of 1.07. Live Nation Entertainment, Inc. has a 52-week low of $26.41 and a 52-week high of $46.33.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 0.50% and a return on equity of 3.33%. Live Nation Entertainment’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.18 EPS for the current fiscal year.

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Several research firms have commented on LYV. Macquarie reiterated a “buy” rating and set a $48.00 price objective on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Jefferies Group LLC boosted their price objective on Live Nation Entertainment from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Stephens reiterated an “overweight” rating and set a $44.00 price objective (up from $36.00) on shares of Live Nation Entertainment in a research note on Thursday, August 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.86.

Several hedge funds have recently bought and sold shares of LYV. Assetmark Inc. purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $134,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $167,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Live Nation Entertainment by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after purchasing an additional 445 shares in the last quarter. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $209,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

About Live Nation Entertainment

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.

Insider Buying and Selling by Quarter for Live Nation Entertainment (NYSE:LYV)

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