Hsbc Holdings PLC Buys 70,811 Shares of Live Nation Entertainment, Inc. $LYV

Hsbc Holdings PLC raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 36.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,391 shares of the company's stock after purchasing an additional 70,811 shares during the period. Hsbc Holdings PLC owned approximately 0.11% of Live Nation Entertainment worth $48,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Leonteq Securities AG bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $25,000. Burkett Financial Services LLC acquired a new stake in Live Nation Entertainment during the second quarter worth about $26,000. Kilter Group LLC bought a new position in Live Nation Entertainment during the second quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $27,000. Finally, Transamerica Financial Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $27,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on LYV. Morgan Stanley boosted their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, June 10th. Benchmark raised their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Finally, TD Cowen reaffirmed a "buy" rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $197.19.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $173.51 on Tuesday. The business has a 50 day simple moving average of $181.51 and a 200 day simple moving average of $168.83. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $40.88 billion, a PE ratio of -153.55 and a beta of 1.11. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released 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. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

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 transaction of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.89% of the company's stock.

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.

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