Live Nation Entertainment (NYSE:LYV) EVP John Hopmans Sells 93,078 Shares
by Renee Jackson · The Cerbat GemLive Nation Entertainment, Inc. (NYSE:LYV – Get Free Report) EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Live Nation Entertainment Price Performance
NYSE:LYV traded down $2.84 during trading hours on Friday, reaching $162.91. 3,571,340 shares of the company were exchanged, compared to its average volume of 3,009,708. The company has a current ratio of 0.88, a quick ratio of 1.00 and a debt-to-equity ratio of 13.93. The firm has a market cap of $38.37 billion, a PE ratio of -92.04 and a beta of 1.11. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25. The stock’s 50-day moving average is $157.51 and its 200-day moving average is $148.70.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) EPS. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.39 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Susquehanna lifted their price target on Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday. Rothschild & Co Redburn lifted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday. The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.75.
Get Our Latest Stock Report on LYV
Institutional Investors Weigh In On Live Nation Entertainment
A number of hedge funds have recently modified their holdings of LYV. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Live Nation Entertainment during the third quarter worth $1,606,000. Profund Advisors LLC lifted its stake in shares of Live Nation Entertainment by 51.1% in the 3rd quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock valued at $1,820,000 after purchasing an additional 3,767 shares during the last quarter. EFG Asset Management North America Corp. acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter worth about $1,191,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at about $2,015,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.