Daily Stock Market News

Insider Selling: Live Nation Entertainment, Inc. (NYSE:LYV) CEO Sells 78,000 Shares of


Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $93.08, for a total transaction of $7,260,240.00. Following the completion of the transaction, the chief executive officer now directly owns 3,336,520 shares of the company’s stock, valued at $310,563,281.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Wednesday, May 4th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $96.63, for a total transaction of $7,537,140.00.
  • On Wednesday, April 27th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $106.73, for a total transaction of $8,324,940.00.
  • On Friday, April 29th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $106.46, for a total transaction of $8,303,880.00.
  • On Wednesday, April 20th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $113.16, for a total transaction of $8,826,480.00.
  • On Friday, April 22nd, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $106.41, for a total transaction of $8,299,980.00.
  • On Thursday, April 14th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $112.49, for a total transaction of $8,774,220.00.
  • On Wednesday, April 6th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $109.78, for a total transaction of $8,562,840.00.
  • On Friday, April 8th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $108.75, for a total transaction of $8,482,500.00.
  • On Friday, April 1st, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $115.92, for a total transaction of $9,041,760.00.
  • On Wednesday, March 30th, Michael Rapino sold 78,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $118.06, for a total transaction of $9,208,680.00.
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Shares of NYSE:LYV traded down $2.62 during trading hours on Friday, hitting $92.51. The stock had a trading volume of 5,236,153 shares, compared to its average volume of 2,353,634. The stock’s fifty day simple moving average is $110.52 and its 200 day simple moving average is $111.39. Live Nation Entertainment, Inc. has a 1-year low of $74.01 and a 1-year high of $127.75. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of -29.75 and a beta of 1.29.

Live Nation Entertainment (NYSE:LYVGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.55. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted ($1.44) EPS. Live Nation Entertainment’s revenue for the quarter was up 520.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.4 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of LYV. Select Equity Group L.P. increased its stake in shares of Live Nation Entertainment by 132.6% during the fourth quarter. Select Equity Group L.P. now owns 6,224,219 shares of the company’s stock valued at $744,977,000 after acquiring an additional 3,547,743 shares during the period. Victory Capital Management Inc. increased its stake in shares of Live Nation Entertainment by 208.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,643,888 shares of the company’s stock valued at $316,447,000 after acquiring an additional 1,785,500 shares during the period. Wellington Management Group LLP acquired a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $83,966,000. Norges Bank acquired a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $108,086,000. Finally, Candlestick Capital Management LP acquired a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $74,431,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Several equities analysts have recently commented on the stock. Benchmark initiated coverage on shares of Live Nation Entertainment in a research report on Monday, April 25th. They set a “buy” rating and a $135.00 price target on the stock. StockNews.com initiated coverage on shares of Live Nation Entertainment in a research note on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet lowered shares of Live Nation Entertainment from a “c” rating to a “d+” rating in a research note on Thursday, March 17th. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $144.00 price objective on the stock in a research note on Friday, February 25th. Finally, Rosenblatt Securities initiated coverage on shares of Live Nation Entertainment in a research note on Monday, April 25th. They set a “buy” rating and a $138.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Buy” and a consensus target price of $124.40.

About Live Nation Entertainment (Get Rating)

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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