Live Nation Entertainment Sees Unusually High Options Volume (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) saw unusually large options trading activity on Wednesday. Stock investors bought 1,540 put options on the company. This is an increase of 1,263% compared to the average volume of 113 put options.

LYV has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $63.00 target price on the stock in a research note on Thursday, February 14th. Citigroup downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $59.00 to $63.00 in a research note on Friday, March 15th. They noted that the move was a valuation call. ValuEngine downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Stephens boosted their price target on shares of Live Nation Entertainment to $70.00 and gave the company an “overweight” rating in a research note on Friday, March 29th. Finally, Atlantic Securities assumed coverage on shares of Live Nation Entertainment in a research note on Tuesday. They issued an “overweight” rating and a $75.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment currently has an average rating of “Buy” and an average target price of $63.18.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 5,447 shares of Live Nation Entertainment stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $62.45, for a total transaction of $340,165.15. Following the transaction, the director now directly owns 67,886 shares of the company’s stock, valued at $4,239,480.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark S. Shapiro sold 8,000 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $64.90, for a total transaction of $519,200.00. Following the transaction, the director now directly owns 36,765 shares in the company, valued at $2,386,048.50. The disclosure for this sale can be found here. Insiders have sold 21,237 shares of company stock worth $1,359,873 over the last ninety days. 4.82% of the stock is owned by insiders.



Several institutional investors have recently added to or reduced their stakes in LYV. Captrust Financial Advisors purchased a new stake in Live Nation Entertainment during the 4th quarter worth approximately $35,000. Parallel Advisors LLC increased its stake in Live Nation Entertainment by 81.0% during the 1st quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock worth $35,000 after buying an additional 243 shares during the period. CWM LLC increased its stake in Live Nation Entertainment by 59.5% during the 1st quarter. CWM LLC now owns 622 shares of the company’s stock worth $40,000 after buying an additional 232 shares during the period. Icon Wealth Partners LLC purchased a new stake in Live Nation Entertainment during the 1st quarter worth approximately $40,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Live Nation Entertainment during the 1st quarter worth approximately $44,000. 70.69% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment stock opened at $63.39 on Thursday. The company has a market capitalization of $13.37 billion, a PE ratio of -704.33 and a beta of 1.13. Live Nation Entertainment has a 1 year low of $46.02 and a 1 year high of $67.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.03. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.59 billion. Live Nation Entertainment had a net margin of 0.22% and a return on equity of 1.77%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) EPS. On average, research analysts forecast that Live Nation Entertainment will post 0.27 EPS for the current year.

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Live Nation Entertainment Company Profile

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 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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