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 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 264,391 shares of the company’s stock, valued at approximately $48,496,000. Hsbc Holdings PLC owned 0.11% of Live Nation Entertainment at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LYV. EFG International AG acquired a new stake in shares of Live Nation Entertainment in the second quarter worth approximately $9,158,000. Ancora Advisors LLC acquired a new position in Live Nation Entertainment during the second quarter worth approximately $563,000. Primecap Management Co. CA purchased a new position in Live Nation Entertainment during the second quarter worth approximately $133,161,000. Canada Pension Plan Investment Board acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at $859,018,000. Finally, Caledonia Private Investments Pty Ltd purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $107,200,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Brian Capo sold 2,900 shares of the stock in a transaction dated 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 transaction, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. This represents a 25.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.89% of the stock is owned by insiders.

Live Nation Entertainment Stock Performance

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

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the business earned $0.41 earnings per share. Live Nation Entertainment’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Analysts Set New Price Targets

LYV has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Rothschild & Co Redburn raised their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Susquehanna lifted their price objective on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $205.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, 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. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Company 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.