Live Nation Entertainment, Inc. (NYSE:LYV – Get Free Report) 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
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 – Get Free Report) 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.
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