Investors Buy Large Lots of Live Nation Entertainment (NYSE:LYV) Put Options

Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) was the recipient of some unusual activity in options trading on Friday. Investors bought 28,765 put options on the stock. This represents a 976% increase over the typical daily volume of 2,673 put options.

Wall Street analyst ponders

A number of equities research analysts recently commented on the stock. TheStreet upgraded shares of Live Nation Entertainment from a “d+” rating to a “c-” rating in a research report on Wednesday, August 10th. Goldman Sachs Group lowered its target price on Live Nation Entertainment shares to $112.00 from $130.00 and gave the company a buy rating in a research report on Friday, November 4th. Morgan Stanley lowered its target price on Live Nation Entertainment shares to $95.00 from $110.00 and gave the company an “Equal Weight” rating in a report Tuesday, November 1. Guggenheim has lowered its target price on Live Nation Entertainment shares to $120.00 from $140.00 and gave the company a “buy” rating in a report issued on Friday, October 7th. Finally, in a report Wednesday, October 19, StockNews.com upgraded Live Nation Entertainment’s stock to a “buy” rating from a “hold” rating. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $111.50.

Live Nation Entertainment is down 6.3%

Shares of Live Nation Entertainment fell $4.52 on Friday to hit $67.33. The company had a trading volume of 365,506 shares compared to an average volume of 2,242,977. The company has a debt to equity ratio of 12.85, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $15.55 billion, a P/E of 93.92 and a beta of 1.31. The company’s 50-day moving average price is $79.25 and its 200-day moving average price is $86.67. Live Nation Entertainment has a 52-week low of $67.53 and a 52-week high of $126.79.

insider activity

In related news, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $90.88 for a total transaction of $7,088,640.00. Following the transaction, the Chief Executive Officer now directly owns 3,645,273 shares of the Company, valued at approximately $331,282,410.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Over the past three months, insiders have sold 312,000 shares of the company’s shares, valued at $26,640,900. 4.01% of the shares are currently owned by company insiders.

Institutional inflows and outflows

Institutional investors have recently changed their positions in the company. Vanguard Group Inc. increased its stake in Live Nation Entertainment by 2.7% in the third quarter. Vanguard Group Inc. now owns 16,333,907 shares of the company’s stock valued at $1,242,032,000 after purchasing an additional 422,882 shares last quarter. Select Equity Group LP increased its stake in Live Nation Entertainment shares by 18.8% in the first quarter. Select Equity Group LP now owns 7,396,714 shares of the company’s stock valued at $870,149,000 after purchasing an additional 1,172,495 shares last quarter. Principal Financial Group Inc. increased its stake in Live Nation Entertainment stock by 4.6% during the first quarter. Principal Financial Group Inc. now owns 6,946,242 shares of the company’s stock valued at $817,157,000 after purchasing an additional 304,557 shares last quarter. Fred Alger Management LLC increased its ownership of Live Nation Entertainment stock by 6.6% during the third quarter. Fred Alger Management LLC now owns 4,503,391 shares of the company’s stock valued at $342,438,000 after purchasing an additional 279,814 shares last quarter. Finally, Victory Capital Management Inc. increased its stake in Live Nation Entertainment stock by 20.9% during the third quarter. Victory Capital Management Inc. now owns 4,093,441 shares of the company’s stock valued at $311,265,000 after purchasing an additional 708,397 shares last quarter. Institutional investors and hedge funds own 71.08% of the company’s shares.

Company Profile of Live Nation Entertainment

(received rating)

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through the concerts, ticketing, and sponsorship and advertising segments. The Concerts segment promotes live music events in owned or operated venues as well as in rented third-party venues; operates and manages music venues; produces music festivals; creates related content; and provides artists with management and other services.

Selected Stories

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