Live Nation Entertainment Target of Unusually Large Options Trading (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) was the target of some unusual options trading on Thursday. Traders acquired 7,833 put options on the stock. This represents an increase of approximately 78% compared to the average volume of 4,398 put options.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC bought a new position in Live Nation Entertainment in the 1st quarter valued at about $207,000. Plato Investment Management Ltd boosted its stake in shares of Live Nation Entertainment by 3,291.8% in the 1st quarter. Plato Investment Management Ltd now owns 5,359 shares of the company’s stock valued at $567,000 after purchasing an additional 5,201 shares in the last quarter. Western Pacific Wealth Management LP boosted its position in Live Nation Entertainment by 14.7% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,125 shares of the company’s stock worth $119,000 after buying an additional 144 shares during the period. iA Global Asset Management Inc. acquired a new stake in Live Nation Entertainment during the 1st quarter worth approximately $609,000. Finally, Tidal Investments LLC lifted its position in shares of Live Nation Entertainment by 81.5% in the 1st quarter. Tidal Investments LLC now owns 22,354 shares of the company’s stock worth $2,364,000 after purchasing an additional 10,040 shares during the period. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYV has been the topic of several analyst reports. TD Cowen reiterated a “buy” rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Redburn Atlantic upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Rosenblatt Securities increased their price objective on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Morgan Stanley raised their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.42.

Live Nation Entertainment Trading Up 2.7 %

LYV opened at $95.99 on Friday. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $22.22 billion, a price-to-earnings ratio of 91.42, a price-to-earnings-growth ratio of 2.05 and a beta of 1.34. The firm has a 50 day simple moving average of $98.02 and a 200 day simple moving average of $93.37. Live Nation Entertainment has a fifty-two week low of $76.48 and a fifty-two week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.25) EPS. On average, sell-side analysts anticipate that Live Nation Entertainment will post 1.39 earnings per share for the current year.

About Live Nation Entertainment

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