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

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Roth Mkm upped their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Macquarie upped their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Bank of America increased their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $27.83 billion, a price-to-earnings ratio of 43.84, a P/E/G ratio of 1.81 and a beta of 1.38. The stock’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 posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates 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. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently modified their holdings of the stock. Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment during the fourth quarter worth $29,000. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the third quarter worth $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter worth $38,000. Murphy & Mullick Capital Management Corp acquired a new position in Live Nation Entertainment during the fourth quarter worth $40,000. Finally, Morse Asset Management Inc acquired a new position in Live Nation Entertainment during the third quarter worth $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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.