Live Nation Entertainment, Inc. (LYV) President Joe Berchtold Sells 40,000 Shares

Share on StockTwits

Live Nation Entertainment, Inc. (NYSE:LYV) President Joe Berchtold sold 40,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $48.70, for a total value of $1,948,000.00. Following the transaction, the president now owns 148,409 shares of the company’s stock, valued at $7,227,518.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Joe Berchtold also recently made the following trade(s):

  • On Thursday, August 9th, Joe Berchtold sold 40,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $49.48, for a total value of $1,979,200.00.

NYSE:LYV opened at $48.15 on Monday. Live Nation Entertainment, Inc. has a 1 year low of $35.94 and a 1 year high of $52.84. The firm has a market capitalization of $10.29 billion, a PE ratio of -100.31 and a beta of 1.03. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.95.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.03 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in LYV. Hennessy Advisors Inc. bought a new position in Live Nation Entertainment during the first quarter valued at about $4,481,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Live Nation Entertainment by 28.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 900,000 shares of the company’s stock valued at $37,926,000 after buying an additional 200,000 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Live Nation Entertainment by 108.3% during the first quarter. Oppenheimer & Co. Inc. now owns 66,112 shares of the company’s stock valued at $2,786,000 after buying an additional 34,372 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Live Nation Entertainment by 3.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 440,986 shares of the company’s stock valued at $18,583,000 after buying an additional 16,077 shares in the last quarter. Finally, Westpac Banking Corp boosted its stake in Live Nation Entertainment by 17.2% during the first quarter. Westpac Banking Corp now owns 9,623 shares of the company’s stock valued at $406,000 after buying an additional 1,414 shares in the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on LYV. Citigroup reissued a “buy” rating and issued a $56.00 price target (up previously from $45.00) on shares of Live Nation Entertainment in a research note on Thursday, June 28th. ValuEngine cut Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 28th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Goldman Sachs Group increased their price target on Live Nation Entertainment from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, Zacks Investment Research cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $55.21.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

Featured Article: Growth Stocks, What They Are, What They Are Not

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

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply