Live Nation Entertainment (NYSE:LYV) Chairman to Resign after Three Years – PRXI, MSG, WWE

Chairman of the Beverly Hills, California- based Live Nation Entertainment, Inc (NYSE:LYV) Irving Azoff resigned from the company 3 years after assisting forge its merger with Ticketmaster.

Live Nation Entertainment, the world’s biggest concert promoter, reported that in a statement on Monday that Azoff, manager of groups comprising the Eagles and Christina Aguilera, is depart immediately.

Billionaire John Malone’s Liberty Media Corp, the company’s major investor, acquired 1.7 million of Azoff’s shares. Irving Azoff became chairman of Live Nation in February 2011.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Premier Exhibitions, Inc. (NASDAQ:PRXI) surged +0.37% to settle at $2.71, The Madison Square Garden Co (NASDAQ:MSG) moved up +1.35% to end at $44.35 while World Wrestling Entertainment, Inc. (NYSE:WWE) jumped +2.20% to finish at $7.89 on Monday.

Live Nation Entertainment, Inc. (NYSE:LYV) last session’s volume of 1.15million shares was surprisingly higher than its average volume of 667,500 shares. The stock after opening at $8.98hit high price of $9.33and then closed at $9.31by scoring +3.67%.

The liquidity measure in recent quarter results of the company was recorded 1.06as current ratio and on the other side the debt to equity ratio was 1.16and long-term debt to equity ratio remained at 1.12. The Company had total cash of $783.67 million at hand and a book value per share as $8.02in the most recent quarter.

The stock’s price volatility was 3.33% for a week and 2.39% for a month as well as price volatility’s Average True Range for 14 days was 0.24and its beta remained at 1.95.

LYV generated revenue of $5.57billion in the previous twelve months and earned -$103.04million. The Company showed a negative -1.66% in the net profit margin as well as in its operating margin which remained at 0.68%. Company’s annual sales growth for the past five years was 10.96%.

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