Live Nation Entertainment (NYSE:LYV) Issues Quarterly Earnings Results

Live Nation Entertainment (NYSE:LYV – Get Rating) announced its quarterly earnings data on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.55, MarketWatch Earnings reports. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.88 billion. The business’s revenue for the quarter was up 520.4% on a year-over-year basis. During the same period last year, the company earned ($1.44) earnings per share.

LYV traded down $2.62 on Friday, reaching $92.51. 5,398,032 shares of the company traded hands, compared to its average volume of 1,733,460. Live Nation Entertainment has a one year low of $74.01 and a one year high of $127.75. The firm has a fifty day simple moving average of $110.52 and a two-hundred day simple moving average of $111.39.

In related news, CAO Brian Capo sold 1,900 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $111.51, for a total transaction of $211,869.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Hopmans sold 36,198 shares of Live Nation Entertainment stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $123.60, for a total transaction of $4,474,072.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,254,771 shares of company stock valued at $138,629,658 in the last quarter. 5.48% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. KB Financial Partners LLC purchased a new position in Live Nation Entertainment during the 4th quarter valued at about $65,000. Penserra Capital Management LLC increased its position in Live Nation Entertainment by 26.4% during the 4th quarter. Penserra Capital Management LLC now owns 660 shares of the company’s stock valued at $78,000 after purchasing an additional 138 shares during the period. Peapack Gladstone Financial Corp purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $213,000. Horizon Investments LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $236,000. Finally, Kingsview Wealth Management LLC raised its stake in shares of Live Nation Entertainment by 10.9% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,595 shares of the company’s stock worth $311,000 after acquiring an additional 256 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

LYV has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Live Nation Entertainment in a research note on Thursday, March 31st. They issued a “hold” rating for the company. 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 objective for the company. TheStreet lowered shares of Live Nation Entertainment from a “c” rating to a “d+” rating in a research report on Thursday, March 17th. Rosenblatt Securities initiated coverage on shares of Live Nation Entertainment in a research report on Monday, April 25th. They set a “buy” rating and a $138.00 price objective for the company. Finally, 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 for the company in a research report on Friday, February 25th. Three 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $124.40.

Live Nation Entertainment Company Profile (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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