Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) saw unusually large options trading activity on Friday. Stock investors bought 4,478 call options on the company. This represents an increase of approximately 30% compared to the average volume of 3,436 call options.
Live Nation Entertainment Stock Down 10.1 %
Shares of NYSE LYV opened at $68.78 on Friday. The stock has a market capitalization of $15.88 billion, a P/E ratio of 98.26 and a beta of 1.29. The company has a 50-day moving average price of $74.83 and a 200-day moving average price of $78.76. Live Nation Entertainment has a 1 year low of $65.05 and a 1 year high of $126.79. The company has a debt-to-equity ratio of 12.85, a current ratio of 1.04 and a quick ratio of 1.04.
Insider Transactions at Live Nation Entertainment
In other Live Nation Entertainment news, Director Jimmy Iovine purchased 13,740 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were bought at an average price of $73.28 per share, for a total transaction of $1,006,867.20. Following the completion of the acquisition, the director now owns 13,740 shares in the company, valued at $1,006,867.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.01% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on LYV shares. Redburn Partners started coverage on shares of Live Nation Entertainment in a research note on Tuesday, November 22nd. They set a “neutral” rating for the company. Morgan Stanley decreased their price target on shares of Live Nation Entertainment from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 30th. The Goldman Sachs Group decreased their price target on shares of Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Jefferies Financial Group decreased their price target on shares of Live Nation Entertainment from $120.00 to $92.00 in a research note on Thursday, December 8th. Finally, Citigroup raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and decreased their price target for the company from $90.00 to $82.00 in a research note on Monday, November 28th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.67.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.
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