Live Nation Entertainment (NYSE:LYV) Shares Down 7.2% Following Insider Selling

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price dropped 7.2% during mid-day trading on Thursday following insider selling activity. The company traded as low as $114.43 and last traded at $114.01. Approximately 2,000,154 shares traded hands during trading, a decline of 6% from the average daily volume of 2,125,993 shares. The stock had previously closed at $122.92.

Specifically, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LYV. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Roth Mkm lifted their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Stock Up 3.0 %

The firm has a market cap of $27.83 billion, a PE ratio of 43.84, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50-day moving average price is $139.52 and its two-hundred day moving average price is $126.41.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.67 billion. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of LYV. Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment in the 4th quarter valued at $29,000. Brooklyn Investment Group acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $38,000. Murphy & Mullick Capital Management Corp acquired a new position in Live Nation Entertainment in the 4th quarter valued at $40,000. Finally, Morse Asset Management Inc acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $42,000. 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.