Michael Rowles Sells 63,136 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

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

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $140.97 on Friday. The stock has a market capitalization of $32.76 billion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The business’s fifty day moving average price is $140.05 and its two-hundred day moving average price is $123.81. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board increased its holdings in Live Nation Entertainment by 0.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock valued at $1,120,177,000 after purchasing an additional 44,703 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after purchasing an additional 105,648 shares during the last quarter. Independent Franchise Partners LLP increased its stake in shares of Live Nation Entertainment by 207.6% in the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock valued at $607,871,000 after buying an additional 3,168,210 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock valued at $500,107,000 after buying an additional 108,293 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its position in Live Nation Entertainment by 32.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock worth $415,447,000 after buying an additional 777,105 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Finally, Oppenheimer upped their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

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.