Live Nation Entertainment, Inc. (NYSE:LYV) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 10,450,000 shares, an increase of 5.3% from the October 31st total of 9,920,000 shares. Approximately 7.4% of the shares of the company are short sold. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is currently 9.0 days.
In other news, Director James S. Kahan purchased 4,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was purchased at an average price of $61.54 per share, with a total value of $276,930.00. Following the acquisition, the director now directly owns 82,821 shares in the company, valued at approximately $5,096,804.34. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,451,018 shares of the company’s stock worth $824,880,000 after acquiring an additional 254,042 shares during the last quarter. Select Equity Group L.P. grew its position in Live Nation Entertainment by 23.6% during the 3rd quarter. Select Equity Group L.P. now owns 7,893,108 shares of the company’s stock worth $523,629,000 after acquiring an additional 1,505,686 shares during the last quarter. Findlay Park Partners LLP grew its position in Live Nation Entertainment by 19.7% during the 3rd quarter. Findlay Park Partners LLP now owns 6,537,000 shares of the company’s stock worth $433,665,000 after acquiring an additional 1,075,000 shares during the last quarter. Victory Capital Management Inc. grew its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,924,225 shares of the company’s stock worth $127,480,000 after acquiring an additional 39,992 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Live Nation Entertainment by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,914,072 shares of the company’s stock worth $126,807,000 after acquiring an additional 25,792 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine raised Live Nation Entertainment from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Evercore ISI raised Live Nation Entertainment from an “in-line” rating to an “outperform” rating in a report on Monday, November 11th. Guggenheim set a $84.00 target price on Live Nation Entertainment and gave the stock a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group set a $84.00 target price on Live Nation Entertainment and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, William Blair reissued a “buy” rating on shares of Live Nation Entertainment in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.00.
NYSE LYV traded down $0.66 during trading hours on Friday, reaching $69.81. 512,669 shares of the company’s stock were exchanged, compared to its average volume of 1,684,583. The stock has a market cap of $14.89 billion, a PE ratio of -775.67 and a beta of 1.19. Live Nation Entertainment has a one year low of $46.02 and a one year high of $73.71. The firm has a fifty day moving average of $67.03 and a 200-day moving average of $67.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.49.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $4.07 billion. Live Nation Entertainment had a return on equity of 4.96% and a net margin of 0.61%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. As a group, research analysts forecast that Live Nation Entertainment will post 0.15 EPS for the current year.
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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