Taking a look at what insiders are doing to gauge the Live Nation Entertainment Inc. (LYV)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Live Nation Entertainment Inc. shares valued at $6,867,016 were sold by Rapino Michael on Sep 16. At $88.04 per share, Rapino Michael sold 78,000 shares. The insider’s holdings dropped to 3,733,273 shares worth approximately $289.25 million following the completion of this transaction.

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Also, Rapino Michael sold 78,000 shares, netting a total of over 7,227,366 in proceeds. Following the sale of shares at $92.66 each, the insider now holds 3,711,273 shares.

Before that, Rapino Michael had sold 78,000 shares from its account. In a trade valued at $7,083,079, the President & CEO traded Live Nation Entertainment Inc. shares for $90.81 each. Upon closing the transaction, the insider’s holdings decreased to 78,000 shares, worth approximately $285.84 million.

As published in a research note from Macquarie on July 05, 2022, Live Nation Entertainment Inc. [LYV] has been rated up from a Neutral to an Outperform and the price target has been revised to $105 from $117. This represents a 26.21% premium over Thursday’s closing price. Analysts at The Benchmark Company started covering the stock with ‘”a Buy”‘ outlook in a report released in late April. As of April 26, 2022, Rosenblatt has initiated its “Buy” rating for LYV.

Analyzing LYV’s Price Performance

On Thursday, Live Nation Entertainment Inc. [NYSE: LYV] plunged -4.99% to $77.48. The stock’s lowest price that day was $77.09, but it reached a high of $81.45 in the same session. During the last five days, there has been a drop of approximately -15.86%. Over the course of the year, Live Nation Entertainment Inc. shares have dropped approximately -35.27%. Shares of the company reached a 52-week high of $126.79 on 02/25/22 and a 52-week low of $77.09 on 09/22/22. A 50-day SMA is recorded $92.17, while a 200-day SMA reached $101.74. Nevertheless, trading volume fell to 3.91 million shares from 2.25 million shares the previous day.

Support And Resistance Levels for Live Nation Entertainment Inc. (LYV)

According to the 24-hour chart, there is a support level at 75.90, which, if violated, would cause prices to drop to 74.31. In the upper region, resistance lies at 80.26. The next price resistance is at 83.03. RSI (Relative Strength Index) is 26.33 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.89, which suggests the price will decrease in the coming days. Percent R is at 97.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Live Nation Entertainment Inc. subject to short interest?

Stocks of Live Nation Entertainment Inc. saw a sharp steep in short interest on Aug 30, 2022 dropping by -0.69 million shares to 13.97 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 14.66 million shares. A decline of -4.94% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 11.68 of the overall float, the days-to-cover ratio (short ratio) decline to 11.68.

Which companies own the most shares of Live Nation Entertainment Inc. (LYV)?

According to The Vanguard Group, Inc. filings, the company currently owns 15,309,752 shares, which is about 6.66% of the total LYV shares outstanding. The investor’s shares have appreciated by 366,320 from its previous 13-F filing of 14943432.0 shares. With the completion of the buy transaction, Select Equity Group LP’s stake is now worth $883,359,089. Canada Pension Plan Investment Bo acquire a 0.36% interest valued at $739.68 million while T. Rowe Price Associates, Inc. sold a -434,048 stake. A total of 663,554 shares of Live Nation Entertainment Inc. were sold by BlackRock Fund Advisors during the quarter, and -66,119 were sold by Principal Global Investors LLC. In its current portfolio, SSgA Funds Management, Inc. holds 5,911,509 shares valued at $534.16 million.


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