What Did This CEO Just Do with Personal Shares of Live Nation Entertainment (NYSE: LYV)?

By Carrie Williams

On November 13, the President & CEO of Live Nation Entertainment (NYSE: LYV), Michael Rapino, sold shares of LYV for $6.27M.

Following Michael Rapino’s last LYV Sell transaction on March 05, 2009, the stock climbed by 43.2%. In addition to Michael Rapino, one other LYV executive reported Sell trades in the last month.

Based on Live Nation Entertainment’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $3.56 billion and quarterly net profit of $115 million. In comparison, last year the company earned revenue of $3.17 billion and had a net profit of $103 million. The company has a one-year high of $46.33 and a one-year low of $26.41. LYV’s market cap is $9.55B and the company has a P/E ratio of 2308.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $47, reflecting a -1.8% downside.

The insider sentiment on Live Nation Entertainment has been negative according to 50 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Michael Rapino’s trades have generated a 73.6% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Live Nation Entertainment, Inc. is an entertainment company, which engages in producing, marketing, and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, Ticketing, and Artist Nation.