Stock News in Focus: Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV) stock identified change of 51.00% away from 52-week low price and recently located move of -5.73% off 52-week high price. It has market worth of $14579M. LYV stock has been recorded -0.48% away from 50 day moving average and 10.06% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.68% off 20-day moving average.

On Oct. 2, 2019, Live Nation Entertainment (NYSE:LYV) notified that it intends to offer, subject to market and other conditions, $950 million in aggregate principal amount of its senior notes due 2027 (the Senior Notes).

Concurrently with the issuance of the Senior Notes, the company intends to enter into an amendment to its existing senior secured credit facility (the new senior secured credit facility). The company intends to use the net proceeds from this offering, together with borrowings under its new senior secured credit facility, to redeem all of its existing 5.375% senior notes due 2022, to repay in full borrowings under its existing senior secured credit facility, to pay related fees and expenses and for general corporate purposes, including acquisitions.  The Senior Notes will be guaranteed by certain of the company’s existing and future domestic subsidiaries and will be senior unsecured obligations of the company. The Senior Notes are expected to mature in 2027.  The completion of the Senior Notes offering is not conditioned upon the company’s entry into the new senior secured credit facility.

The Senior Notes will be offered through a private placement and will not be registered under the Securities Act of 1933, as amended (the Securities Act), or any state securities laws. As a result, the Senior Notes may not be offered or sold in the United States or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Senior Notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act and, outside the United States, to persons other than U.S. persons in compliance with Regulation S under the Securities Act. This news release is neither an offer to sell nor a solicitation of an offer to buy the Senior Notes, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 The Services sector company, Live Nation Entertainment noticed change of 1.59% to $69.49 along volume of 908859 shares in recent session compared to an average volume of 1043.4K. The stock observed return of 4.75% in 5 days trading activity. The stock was at -2.10% over one month performance. LYV’s shares are at 1.28% for the quarter and driving a 26.74% return over the course of the past year and is now at 41.10% since this point in 2018. 

 The average volatility for the week at 2.41% and for month was at 2.65%. There are 209.8M shares outstanding and 139.98M shares are floated in market. Right now the stock beta is 1.17. 

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