Live Nation Entertainment, Inc. (NYSE:LYV) COO Joe Berchtold sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $45.43, for a total transaction of $908,600.00. Following the sale, the chief operating officer now directly owns 117,918 shares in the company, valued at approximately $5,357,014.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Live Nation Entertainment, Inc. (NYSE:LYV) opened at $46.16 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. Live Nation Entertainment, Inc. has a 1 year low of $26.41 and a 1 year high of $46.33. The firm has a market cap of $9,291.52, a price-to-earnings ratio of 2,246.50 and a beta of 1.07.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter last year, the firm earned $0.49 EPS. The company’s revenue was up 12.3% on a year-over-year basis. equities research analysts expect that Live Nation Entertainment, Inc. will post 0.18 EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on the stock. Macquarie reaffirmed a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, October 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a research note on Monday, October 16th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $44.00 price target (up previously from $36.00) on shares of Live Nation Entertainment in a research note on Thursday, August 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.86.
A number of hedge funds have recently bought and sold shares of LYV. Assetmark Inc. bought a new position in Live Nation Entertainment during the third quarter valued at $134,000. Massey Quick Simon & CO. LLC bought a new position in Live Nation Entertainment during the third quarter valued at $167,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Live Nation Entertainment by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after acquiring an additional 445 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in Live Nation Entertainment during the third quarter valued at $209,000. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Live Nation Entertainment in the second quarter worth about $210,000. Institutional investors and hedge funds own 68.32% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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