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 on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Live Nation Entertainment Stock Down 1.8 %

LYV stock traded down $2.60 during trading on Wednesday, reaching $141.86. 3,951,464 shares of the stock were exchanged, compared to its average volume of 2,139,840. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The firm has a market cap of $32.96 billion, a P/E ratio of 52.15, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm’s 50 day moving average is $139.69 and its 200 day moving average is $123.56.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment during the fourth quarter worth about $29,000. Brooklyn Investment Group purchased a new position in Live Nation Entertainment in the third quarter valued at approximately $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment during the third quarter valued at $38,000. Murphy & Mullick Capital Management Corp purchased a new stake in Live Nation Entertainment in the fourth quarter worth $40,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the third quarter valued at $41,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LYV. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Citigroup raised their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

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.