Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey T. Hinson Sells 5,640 Shares of Stock

Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now directly owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $97.33 on Thursday. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 92.70, a price-to-earnings-growth ratio of 2.21 and a beta of 1.34. The stock’s 50-day moving average is $94.77 and its two-hundred day moving average is $95.85. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts forecast that Live Nation Entertainment, Inc. will post 1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYV. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Roth Mkm reiterated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Friday, May 24th. Rosenblatt Securities restated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Finally, Oppenheimer upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.46.

Institutional Investors Weigh In On Live Nation Entertainment

Several institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in Live Nation Entertainment in the second quarter valued at $4,999,000. Coronation Fund Managers Ltd. raised its position in shares of Live Nation Entertainment by 48.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock worth $4,798,000 after acquiring an additional 16,668 shares in the last quarter. Quarry LP lifted its stake in Live Nation Entertainment by 119.7% during the second quarter. Quarry LP now owns 1,714 shares of the company’s stock worth $161,000 after purchasing an additional 934 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Live Nation Entertainment by 74.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,755 shares of the company’s stock valued at $446,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Creative Planning raised its holdings in Live Nation Entertainment by 1.2% during the second quarter. Creative Planning now owns 28,501 shares of the company’s stock worth $2,672,000 after purchasing an additional 326 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

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.