Live Nation Entertainment, Inc. (LYV) CEO Michael Rapino Sells 70,000 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 70,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $42.87, for a total transaction of $3,000,900.00. Following the completion of the transaction, the chief executive officer now owns 115,277 shares of the company’s stock, valued at $4,941,924.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Michael Rapino also recently made the following trade(s):

  • On Friday, December 8th, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $43.21, for a total transaction of $9,074,100.00.
  • On Wednesday, November 29th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $46.28, for a total transaction of $3,239,600.00.
  • On Friday, December 1st, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $45.59, for a total transaction of $9,573,900.00.
  • On Wednesday, November 15th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $44.93, for a total transaction of $3,145,100.00.
  • On Friday, November 17th, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.14, for a total transaction of $9,479,400.00.
  • On Friday, November 10th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $44.93, for a total transaction of $3,145,100.00.
  • On Wednesday, November 8th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.46, for a total transaction of $3,182,200.00.

Shares of Live Nation Entertainment, Inc. (NYSE LYV) traded down $0.24 during midday trading on Friday, hitting $43.35. 1,988,400 shares of the stock traded hands, compared to its average volume of 1,450,608. The company has a market capitalization of $9,010.00, a P/E ratio of 2,136.50 and a beta of 1.05. Live Nation Entertainment, Inc. has a 52-week low of $26.41 and a 52-week high of $46.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39.

Live Nation Entertainment (NYSE:LYV) last issued 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). The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. equities research analysts forecast that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current year.

Several analysts have weighed in on the stock. Macquarie reissued a “buy” rating and issued a $48.00 price target on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Jefferies Group boosted their price objective on shares of Live Nation Entertainment from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. Finally, Stephens restated an “overweight” rating and issued a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Live Nation Entertainment has a consensus rating of “Buy” and an average target price of $42.86.

A number of hedge funds have recently made changes to their positions in LYV. Aperio Group LLC increased its holdings in Live Nation Entertainment by 95.0% during the second quarter. Aperio Group LLC now owns 44,049 shares of the company’s stock valued at $1,535,000 after buying an additional 21,460 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Live Nation Entertainment by 23.5% in the second quarter. Russell Investments Group Ltd. now owns 105,071 shares of the company’s stock worth $3,662,000 after purchasing an additional 20,007 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Live Nation Entertainment by 2.1% during the second quarter. Great West Life Assurance Co. Can now owns 80,549 shares of the company’s stock valued at $2,806,000 after acquiring an additional 1,660 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in Live Nation Entertainment during the second quarter valued at $210,000. Finally, World Asset Management Inc grew its stake in Live Nation Entertainment by 10.3% during the second quarter. World Asset Management Inc now owns 9,751 shares of the company’s stock valued at $340,000 after acquiring an additional 907 shares in the last quarter. 68.09% of the stock is owned by institutional investors and hedge funds.

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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.

Insider Buying and Selling by Quarter for Live Nation Entertainment (NYSE:LYV)

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