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Live Nation Entertainment Inc. (LYV) – Don’t Be So Quick to Call it Dead

710 institutions hold shares in Live Nation Entertainment Inc. (LYV), with 73.27M shares held by insiders accounting for 33.85% while institutional investors hold 116.02% of the company’s shares. The shares outstanding are 213.74M, and float is at 158.98M with Short Float at 8.34%. Institutions hold 76.75% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 15.05 million shares valued at $1.11 billion. The investor’s holdings represent 6.90% of the LYV Shares outstanding. As of Dec 30, 2020, the second largest holder is Public Investment Fund with 12.57 million shares valued at $923.29 million to account for 5.76% of the shares outstanding. The other top investors are Blackrock Inc. which holds 10.79 million shares representing 4.95% and valued at over $792.52 million, while Canada Pension Plan Investment Board holds 4.91% of the shares totaling 10.71 million with a market value of $787.16 million.

Live Nation Entertainment Inc. (NYSE: LYV) is 12.43% higher on its value in year-to-date trading and has touched a low of $36.01 and a high of $94.63 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The LYV stock was last observed hovering at around $82.42 in the last trading session, with the day’s gains setting it 0.19% off its average median price target of $90.50 for the next 12 months. It is also 17.39% off the consensus price target high of $100.00 offered by 14 analysts, but current levels are -27.09% lower than the price target low of $65.00 for the same period.

Currently trading at $82.61, the stock is -1.13% and -3.72% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.82 million and changing 0.23% at the moment leaves the stock 22.64% off its SMA200. LYV registered 77.54% gain for a year compared to 6-month gain of 59.32%. The firm has a 50-day simple moving average (SMA 50) of $84.29 and a 200-day simple moving average (SMA200) of $74.10.

The stock witnessed a -1.05% loss in the last 1 month and extending the period to 3 months gives it a 19.41%, and is 2.01% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.70% over the week and 2.57% over the month.

Live Nation Entertainment Inc. (LYV) has around 8200 employees, a market worth around $17.84B and $1.86B in sales. Fwd P/E is 186.06. Profit margin for the company is -92.60%. Distance from 52-week low is 129.41% and -12.70% from its 52-week high. The company has generated returns on investments over the last 12 months (-36.60%).

Live Nation Entertainment Inc. (LYV) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Live Nation Entertainment Inc. (LYV) is a “Hold”. 14 analysts offering their recommendations for the stock have an average rating of 2.50, where 8 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Live Nation Entertainment Inc. is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at -$1.55 with sales reaching $291.79M over the same period.The EPS is expected to grow by 58.70% this year, but quarterly earnings will post 202.20% year-over-year. Quarterly sales are estimated to shrink -78.60% in year-over-year returns.

Live Nation Entertainment Inc. (LYV) Insider Activity

A total of 54 insider transactions have happened at Live Nation Entertainment Inc. (LYV) in the last six months, with sales accounting for 38 and purchases happening 16 times. The most recent transaction is an insider sale by Berchtold Joe, the company’s President. SEC filings show that Berchtold Joe sold 85,000 shares of the company’s common stock on Mar 12 at a price of $87.84 per share for a total of $7.47 million. Following the sale, the insider now owns 0.87 million shares.

Live Nation Entertainment Inc. disclosed in a document filed with the SEC on Mar 12 that Willard Elizabeth Kathleen (EVP & Chief Financial Officer) sold a total of 81,500 shares of the company’s common stock. The trade occurred on Mar 12 and was made at $87.69 per share for $7.15 million. Following the transaction, the insider now directly holds 0.29 million shares of the LYV stock.

Still, SEC filings show that on Mar 11, Berchtold Joe (President) disposed off 85,000 shares at an average price of $88.83 for $7.55 million. The insider now directly holds 870,969 shares of Live Nation Entertainment Inc. (LYV).

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Live Nation Entertainment Inc. (LYV): Who are the competitors?

The company’s main competitors (and peers) include eBay Inc. (EBAY) that is trading 43.66% up over the past 12 months. World Wrestling Entertainment Inc. (WWE) is 23.24% up on the 1-year trading charts. Short interest in the company’s stock has fallen -3.11% from the last report on Apr 14, 2021 to stand at a total of 13.26 million short shares sold with a short interest ratio of 6.49.

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