Stocks of Live Nation Entertainment Inc. (NYSE:LYV) traded higher last session on Wall Street, down -3.17% to $82.06.
LYV stock price is now 15.72% away from the 50-day moving average and 6.98% away from the 200-day moving average. The market capitalization of the company currently stands at $18.81B.
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In other news, Rowles Michael, EVP & General Counsel sold 100,000 shares of the company’s stock on May 08. The stock was sold for $7,800,000 at an average price of $78.00. Upon completion of the transaction, the EVP & General Counsel now directly owns 157,786 shares in the company, valued at $12.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 01, Director Iovine Jimmy bought 13,740 shares of the business’s stock. A total of $1,006,867 was incurred on buying the stock at an average price of $73.28. This leaves the insider owning 13,740 shares of the company worth $1.13 million. Insiders disposed of 2,412,014 shares of company stock worth roughly $197.93 million over the past 1 year. A total of 2.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LYV stock. A new stake in Live Nation Entertainment Inc. shares was purchased by D1 CAPITAL PARTNERS L.P. during the first quarter worth $269,139,000. ARTISAN PARTNERS LIMITED PARTNERSHIP invested $115,284,000 in shares of LYV during the first quarter. In the first quarter, SOUTHEASTERN ASSET MANAGEMENT INC/TN/ acquired a new stake in Live Nation Entertainment Inc. valued at approximately $25,937,000. MAPLELANE CAPITAL, LLC acquired a new stake in LYV for approximately $25,192,000. TWO SIGMA ADVISERS, LP purchased a new stake in LYV valued at around $15,263,000 in the second quarter. In total, there are 846 active investors with 71.90% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $84.01 for Live Nation Entertainment Inc. (NYSE: LYV). During the past 12 months, Live Nation Entertainment Inc. has had a low of $64.25 and a high of $99.66. The fifty day moving average price for LYV is $71.22 and a two-hundred day moving average price translates $76.63 for the stock.
The latest earnings results from Live Nation Entertainment Inc. (NYSE: LYV) was released for Mar, 2023. According to the Entertainment Company, earnings per share came in at -$0.25, beating analysts’ expectations of -$0.42 by 0.17. This compares to -$0.22 EPS in the same period last year. The company reported revenue of $3.13 billion for the quarter, compared to $1.8 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 73.47 percent. For the current quarter, analysts expect LYV to generate $4.95B in revenue.
Live Nation Entertainment Inc.(LYV) Company Profile
Live Nation Entertainment, Inc. operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists. The Ticketing segment manages the ticketing operations, including the provision of ticketing software and services to clients for tickets and event information through its primary websites livenation.com and ticketmaster.com, as well as through other websites, mobile apps, retail outlets, and call centers; and provides ticket resale services. This segment sells tickets for its events and third-party clients in various live event categories; offers ticketing services for arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. The Sponsorship & Advertising segment sells international, national, and local sponsorships and placement of advertising, including signage and promotional programs; rich media offering that comprise advertising related with live streaming and music-related content; and ads across its distribution network of venues, events, and websites. This segment also manages the development of strategic sponsorship programs, as well as develops, books, and produces custom events or programs for specific brands. It owns, operates, or leases entertainment venues in North America and internationally. The company was formerly known as Live Nation, Inc. and changed its name to Live Nation Entertainment, Inc. in January 2010. Live Nation Entertainment, Inc. was incorporated in 2005 and is headquartered in Beverly Hills, California.
