Live Nation Entertainment, Inc. (LYV) CEO Michael Rapino Sells 210,000 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 210,000 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $45.14, for a total value of $9,479,400.00. Following the completion of the sale, the chief executive officer now owns 185,277 shares of the company’s stock, valued at $8,363,403.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, November 15th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $44.93, for a total value of $3,145,100.00.
  • On Friday, November 10th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $44.93, for a total value of $3,145,100.00.
  • On Wednesday, November 8th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $45.46, for a total value of $3,182,200.00.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) traded down $0.02 during trading on Friday, reaching $45.34. The company’s stock had a trading volume of 2,232,771 shares, compared to its average volume of 1,376,403. 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, Inc. has a 52-week low of $26.41 and a 52-week high of $46.33. The firm has a market cap of $9,380.00, a P/E ratio of 2,308.00 and a beta of 1.06.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. analysts forecast that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of LYV. Canada Pension Plan Investment Board grew its holdings in Live Nation Entertainment by 8,038.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock worth $252,002,000 after acquiring an additional 5,715,400 shares during the period. William Blair Investment Management LLC acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $109,693,000. Acadian Asset Management LLC grew its holdings in Live Nation Entertainment by 818.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,086,576 shares of the company’s stock worth $37,868,000 after acquiring an additional 968,217 shares during the period. Victory Capital Management Inc. grew its holdings in Live Nation Entertainment by 80.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,516,512 shares of the company’s stock worth $52,851,000 after acquiring an additional 678,283 shares during the period. Finally, Scout Investments Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth about $24,217,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

A number of research firms recently weighed in on LYV. Jefferies Group LLC restated a “buy” rating and issued a $42.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, September 12th. Macquarie restated a “buy” rating and issued a $48.00 price objective on shares of Live Nation Entertainment in a report on Sunday, November 5th. Zacks Investment Research downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 10th. William Blair began coverage on Live Nation Entertainment in a report on Friday, July 21st. They issued an “outperform” rating for the company. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment has an average rating of “Buy” and a consensus target price of $42.86.

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.

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

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