Insider Selling: Live Nation Entertainment, Inc. (NYSE:LYV) EVP Sells 63,136 Shares of Stock

Live Nation Entertainment, Inc. (NYSE:LYV) EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Live Nation Entertainment Trading Up 1.7 %

Shares of LYV opened at $143.35 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The company has a market cap of $33.31 billion, a P/E ratio of 52.70, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s fifty day simple moving average is $140.25 and its 200-day simple moving average is $124.17.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LYV shares. Macquarie upped their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Rosenblatt Securities reiterated a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Finally, Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LYV. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the 4th quarter worth about $29,000. Brooklyn Investment Group purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $31,000. World Investment Advisors LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $38,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment in the 4th quarter worth about $40,000. Finally, Reston Wealth Management LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.