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

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 70,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $44.93, for a total transaction of $3,145,100.00. Following the completion of the sale, the chief executive officer now owns 395,277 shares of the company’s stock, valued at $17,759,795.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Wednesday, November 8th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.46, for a total transaction of $3,182,200.00.

Shares of Live Nation Entertainment, Inc. (NYSE LYV) opened at $44.93 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. Live Nation Entertainment, Inc. has a fifty-two week low of $26.41 and a fifty-two week high of $45.72. The stock has a market cap of $9,258.43, a PE ratio of 2,238.50 and a beta of 1.07.

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

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A number of equities research analysts recently issued reports on LYV shares. Jefferies Group LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of Live Nation Entertainment in a report on Monday, October 16th. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, October 10th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Friday, August 11th. Macquarie reiterated a “buy” rating and issued a $48.00 price objective on shares of Live Nation Entertainment in a report on Sunday, November 5th. Finally, William Blair began coverage on shares of Live Nation Entertainment in a report on Friday, July 21st. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $42.86.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP raised its position in shares of Live Nation Entertainment by 765.6% during the third quarter. Engineers Gate Manager LP now owns 139,019 shares of the company’s stock valued at $6,054,000 after buying an additional 122,959 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Live Nation Entertainment by 863.8% during the third quarter. Envestnet Asset Management Inc. now owns 13,560 shares of the company’s stock valued at $590,000 after buying an additional 12,153 shares during the last quarter. Bluestein R H & Co. raised its position in shares of Live Nation Entertainment by 50.9% during the third quarter. Bluestein R H & Co. now owns 25,200 shares of the company’s stock valued at $1,097,000 after buying an additional 8,500 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Live Nation Entertainment during the third quarter valued at about $692,000. Finally, Pinebridge Investments L.P. acquired a new position in shares of Live Nation Entertainment during the third quarter valued at about $368,000. 68.32% of the stock is owned by institutional investors and hedge funds.

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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