Live Nation Entertainment, Inc. (NYSE:LYV) EVP Michael Rowles Sells 67,840 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) EVP Michael Rowles sold 67,840 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $63.14, for a total value of $4,283,417.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of LYV traded down $0.26 on Friday, reaching $63.99. 576,206 shares of the stock traded hands, compared to its average volume of 1,207,168. The stock has a market cap of $13.46 billion, a PE ratio of -711.00 and a beta of 1.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. Live Nation Entertainment, Inc. has a 12 month low of $46.02 and a 12 month high of $67.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.03. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.59 billion. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. Live Nation Entertainment’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.24) EPS. Equities analysts forecast that Live Nation Entertainment, Inc. will post 0.27 earnings per share for the current fiscal year.

Several research analysts have commented on LYV shares. Citigroup downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $59.00 to $63.00 in a research report on Friday, March 15th. They noted that the move was a valuation call. Zacks Investment Research cut Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Stephens boosted their price objective on Live Nation Entertainment to $70.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. ValuEngine cut Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Finally, Berenberg Bank assumed coverage on Live Nation Entertainment in a research report on Tuesday, May 14th. They set a “buy” rating and a $73.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $63.18.

A number of hedge funds have recently made changes to their positions in LYV. Captrust Financial Advisors acquired a new stake in Live Nation Entertainment in the 4th quarter valued at $35,000. Parallel Advisors LLC boosted its stake in Live Nation Entertainment by 81.0% in the 1st quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock valued at $35,000 after buying an additional 243 shares in the last quarter. CWM LLC boosted its stake in Live Nation Entertainment by 59.5% in the 1st quarter. CWM LLC now owns 622 shares of the company’s stock valued at $40,000 after buying an additional 232 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at $40,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Live Nation Entertainment in the 1st quarter valued at $44,000. 70.69% of the stock is currently owned by institutional investors and hedge funds.

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Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing 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; and produces music festivals and creates associated content.

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

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