Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Live Nation Entertainment Inc shares valued at $100,600 were sold by HINSON JEFFREY T. on Mar 08 ’24. At $100.50 per share, HINSON JEFFREY T. sold 1,001 shares. The insider’s holdings dropped to 59,374 shares worth approximately $6.02 million following the completion of this transaction.
Also, Fu Ping sold 1,500 shares, netting a total of over 140,505 in proceeds. Following the sale of shares at $93.67 each, the insider now holds 14,714 shares.
Before that, Berchtold Joe had sold 119,100 shares from its account. In a trade valued at $11,065,778, the President & CFO traded Live Nation Entertainment Inc shares for $92.91 each. Upon closing the transaction, the insider’s holdings decreased to 119,100 shares, worth approximately $44.84 million.
As published in a research note from ROTH MKM on January 12, 2024, Live Nation Entertainment Inc [LYV] has been rated up from a Neutral to a Buy and the price target has been revised to $114 from $92. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of October 26, 2023, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for LYV. Earlier on July 21, 2023, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for LYV stock.
Analyzing LYV Stock Performance
During the last five days, there has been a drop of approximately -2.67%. Over the course of the year, Live Nation Entertainment Inc shares have jumped approximately 8.35%. Shares of the company reached a 52-week high of $107.24 on 03/28/24 and a 52-week low of $86.67 on 02/06/24. A 50-day SMA is recorded $97.62, while a 200-day SMA reached $89.75. Nevertheless, trading volume fell to 1.9 million shares from 0.98 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 100.95, which, if violated, would cause prices to drop to 100.48. In the upper region, resistance lies at 101.94. The next price resistance is at 102.47. RSI (Relative Strength Index) is 47.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.10, which suggests the price will decrease in the coming days. Percent R is at 93.27%, 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 rise in short interest on Mar 15, 2024 jumping by 1.21 million shares to 13.97 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 12.76 million shares. A jump of 8.66% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.1 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.1.
