Hsbc Holdings PLC Makes New $48.50 Million Investment in Live Nation Entertainment, Inc. $LYV

Hsbc Holdings PLC purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 264,391 shares of the company’s stock, valued at approximately $48,496,000.

Other hedge funds also recently made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in Live Nation Entertainment during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in Live Nation Entertainment in the second quarter worth approximately $27,000. Kilter Group LLC bought a new position in shares of Live Nation Entertainment in the second quarter valued at $27,000. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $25,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $182.81 on Thursday. The company has a market capitalization of $43.08 billion, a price-to-earnings ratio of -161.78 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock’s fifty day simple moving average is $180.85 and its 200-day simple moving average is $167.40.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LYV shares. Zacks Research raised Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a report on Tuesday, July 28th. Citigroup raised their target price on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.