Hsbc Holdings PLC Has $42.41 Million Stake in Live Nation Entertainment, Inc. $LYV

Hsbc Holdings PLC decreased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 71.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 297,293 shares of the company’s stock after selling 754,041 shares during the quarter. Hsbc Holdings PLC’s holdings in Live Nation Entertainment were worth $42,405,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in LYV. Leonteq Securities AG bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. bought a new position in Live Nation Entertainment during the fourth quarter valued at about $26,000. Ameriflex Group Inc. raised its holdings in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. Elyxium Wealth LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $30,000. Finally, DV Equities LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling

In other news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Rothschild & Co Redburn boosted their price objective on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Susquehanna raised their target price on Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $188.50.

Live Nation Entertainment Stock Down 1.1%

Shares of NYSE:LYV opened at $168.73 on Wednesday. The company’s fifty day moving average is $164.24 and its 200-day moving average is $154.91. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $176.00. The company has a market capitalization of $39.74 billion, a PE ratio of -95.33 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) EPS. Equities research analysts predict that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.