Live Nation Entertainment (LNE) chief executive Michael Rapino sold 78,000 shares of the company’s stock in a transaction on Friday, April 22.
According to a United States Securities and Exchange Commission Statement of Changes in Beneficial Ownership, shares sold for an average price of $106.41 (£84/€99) with all sales amounting to $8.3m. Rapino now owns 3,204,520 shares in Live Nation, with the shares valued at roughly $341m.
Rapino has made a series of trades over the last few weeks.
On Wednesday, April 20, Rapino sold another 78,000 shares of LNE stock, with an average price for each share coming in at $113.16. The total value of the 78,000 shares amounted to around $8.8m.
Rapino sold a further 78,000 shares on Thursday, April 14, with shares selling for an average price of $112.49, also amounting to a rough total of $8.8m. The trend of selling 78,000 shares at a time has been a continuous occurrence since mid-March.
Rapino first sold 78,000 shares of Live Nation Entertainment stock for an average of $111.30, meaning the latest sale of stock has seen shares fall an average of just under $5 per share to $106.41.
In total, Rapino offloaded roughly $88m worth of shares over the last few weeks.
LNE also recently announced that it will release its first quarter financial results for 2022 on Thursday, May 5.
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