Live Nation Entertainment Sees Unusually Large Options Volume (LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) was the target of unusually large options trading on Thursday. Stock investors acquired 509 put options on the company. This represents an increase of approximately 825% compared to the typical daily volume of 55 put options.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Macquarie restated a “buy” rating and set a $60.00 price target on shares of Live Nation Entertainment in a research note on Thursday, November 22nd. Finally, ValuEngine upgraded Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.35.

In other news, EVP Michael Rowles sold 25,000 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $56.47, for a total transaction of $1,411,750.00. Following the sale, the executive vice president now owns 191,237 shares in the company, valued at $10,799,153.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Rapino sold 85,000 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $52.51, for a total value of $4,463,350.00. Following the sale, the chief executive officer now owns 1,052,030 shares in the company, valued at approximately $55,242,095.30. The disclosure for this sale can be found here. Insiders have sold 280,000 shares of company stock worth $14,148,150 in the last 90 days. Insiders own 5.19% of the company’s stock.



Several institutional investors have recently added to or reduced their stakes in LYV. Advisor Partners LLC acquired a new position in Live Nation Entertainment in the third quarter valued at approximately $215,000. MML Investors Services LLC acquired a new position in Live Nation Entertainment in the third quarter valued at approximately $244,000. Cornerstone Wealth Management LLC acquired a new position in Live Nation Entertainment in the third quarter valued at approximately $250,000. Tocqueville Asset Management L.P. acquired a new position in Live Nation Entertainment in the third quarter valued at approximately $300,000. Finally, Global X Management Co LLC lifted its holdings in Live Nation Entertainment by 28.0% in the second quarter. Global X Management Co LLC now owns 6,972 shares of the company’s stock valued at $339,000 after acquiring an additional 1,525 shares during the period. 68.63% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment stock opened at $53.01 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.08. Live Nation Entertainment has a 52 week low of $35.94 and a 52 week high of $58.26. The stock has a market cap of $11.05 billion, a P/E ratio of -110.44 and a beta of 1.08.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, November 1st. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate that Live Nation Entertainment will post -0.02 EPS for the current fiscal year.

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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.

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