Inside Deal: Michael Rowles Sold 50,000 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

November 23, 2016 - By Winifred Garcia

Inside Deal: Michael Rowles Sold 50,000 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Michael Rowles Insider Sell

The insider, and Live Nation Entertainment Inc’s EVP & General Counsel, Michael Rowles, made a sale of 50,000 company shares on November 22, 2016, valued at $1,402,500 (at $28.1 per each share). Today, he has in hand a total of 238,160 shares or 0.12% of Live Nation Entertainment Inc’s market cap. The date of transaction was November 22, 2016, and it was unveiled in a SEC-filed filing, which you can find here.

Live Nation Entertainment, Inc. (NYSE:LYV) Ratings Coverage

Out of 7 analysts covering Live Nation (NYSE:LYV), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $33 is the highest target while $30.0 is the lowest. The $32.50 average target is 16.70% above today’s ($27.85) stock price. Live Nation has been the topic of 9 analyst reports since September 18, 2015 according to StockzIntelligence Inc. JP Morgan initiated Live Nation Entertainment, Inc. (NYSE:LYV) on Thursday, August 18 with “Overweight” rating. The firm has “Overweight” rating given on Friday, October 30 by Albert Fried. The firm earned “Buy” rating on Friday, September 18 by Gabelli. The stock of Live Nation Entertainment, Inc. (NYSE:LYV) has “Buy” rating given on Monday, May 2 by Northcoast. The firm has “Overweight” rating given on Tuesday, November 8 by Stephens. The stock of Live Nation Entertainment, Inc. (NYSE:LYV) has “Neutral” rating given on Tuesday, March 29 by BTIG Research. The firm has “Buy” rating given on Thursday, October 8 by Citigroup. The stock of Live Nation Entertainment, Inc. (NYSE:LYV) earned “Equal-Weight” rating by Stephens on Thursday, October 6. Citigroup maintained it with “Buy” rating and $32 target price in Wednesday, October 12 report.

Insitutional Activity: The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 0.26, from 1.09 in 2016Q1. The ratio dived, as 27 funds sold all Live Nation Entertainment, Inc. shares owned while 78 reduced positions. 31 funds bought stakes while 83 increased positions. They now own 125.43 million shares or 0.29% more from 125.07 million shares in 2016Q1.

Moreover, Fifth Third Bankshares has 0% invested in Live Nation Entertainment, Inc. (NYSE:LYV) for 359 shares. The New York-based Levin Cap Strategies L P has invested 0.02% in Live Nation Entertainment, Inc. (NYSE:LYV). Bnp Paribas Arbitrage Sa owns 63,089 shares or 0.01% of their US portfolio. Massachusetts Ma holds 0.01% of its portfolio in Live Nation Entertainment, Inc. (NYSE:LYV) for 1.23M shares. Glob X Management Co Limited Liability has 312 shares for 0% of their US portfolio. State Treasurer State Of Michigan has 58,600 shares for 0.01% of their US portfolio. Nomura Asset Limited accumulated 3,240 shares or 0% of the stock. Airain accumulated 0.03% or 21,089 shares. Moreover, Bb&T has 0.07% invested in Live Nation Entertainment, Inc. (NYSE:LYV) for 136,443 shares. Ibm Retirement Fund last reported 13,246 shares in the company. Peak6 Invs Lp holds 0% of its portfolio in Live Nation Entertainment, Inc. (NYSE:LYV) for 11,718 shares. Sei Invs owns 498,804 shares or 0.07% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 31,613 shares in the company. Loomis Sayles & L P has 1.06 million shares for 0.07% of their US portfolio. Teachers Advsrs, a New York-based fund reported 738,582 shares.

Insider Transactions: Since June 13, 2016, the stock had 0 buys, and 2 insider sales for $1.52 million net activity. Shares for $1.39 million were sold by MAYS RANDALL THOMAS on Wednesday, November 9. ENLOE ROBERT TED III also sold $126,245 worth of Live Nation Entertainment, Inc. (NYSE:LYV) on Monday, June 13.

The stock decreased 1.00% or $0.28 during the last trading session, hitting $27.85. About 1.13 million shares traded hands. Live Nation Entertainment, Inc. (NYSE:LYV) has risen 29.16% since April 20, 2016 and is uptrending. It has outperformed by 24.60% the S&P500.

Live Nation Entertainment, Inc. is a live entertainment company. The company has a market cap of $5.68 billion. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. It currently has negative earnings. The Company’s divisions include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.

According to Zacks Investment Research, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California.”

More recent Live Nation Entertainment, Inc. (NYSE:LYV) news were published by: Prnewswire.com which released: “Live Nation Entertainment Announces Pricing Of Private Notes Offering” on October 26, 2016. Also Prnewswire.com published the news titled: “Live Nation Entertainment Reports Third Quarter 2016 Financial Results” on November 07, 2016. Prnewswire.com‘s news article titled: “Live Nation Continues Building Global Festival Portfolio With Acquisition Of ..” with publication date: November 22, 2016 was also an interesting one.

LYV Company Profile

Live Nation Entertainment, Inc. (Live Nation), incorporated on August 2, 2005, is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. The Company’s divisions include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate. The Firm connects approximately 530 million fans across its platforms in over 40 countries. The Firm is a producer of live music concerts around the world, based on total fans that attend Live Nation events as compared to events of other promoters, connecting approximately 60 million fans to over 25,500 events for approximately 3,300 artists.

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