Live Nation Entertainment, Inc. $LYV Stock Holdings Decreased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC cut its stake in Live Nation Entertainment by 71.7% in the fourth quarter, leaving it with 297,293 shares worth about $42.4 million.
• Despite some recent selling by hedge funds and insiders, Live Nation remains heavily owned by institutions, with 74.52% of shares held by hedge funds and other institutional investors.
• Analysts are still broadly positive on LYV: the stock has a Moderate Buy consensus, and the average price target is $188.50, above its recent trading level.

Hsbc Holdings PLC lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 71.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 297,293 shares of the company's stock after selling 754,041 shares during the quarter. Hsbc Holdings PLC owned approximately 0.13% of Live Nation Entertainment worth $42,405,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock worth $262,733,000 after acquiring an additional 759,363 shares in the last quarter. Geode Capital Management LLC grew its stake in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock valued at $610,707,000 after acquiring an additional 20,165 shares in the last quarter. L2 Asset Management LLC increased its holdings in shares of Live Nation Entertainment by 70.4% in the 3rd quarter. L2 Asset Management LLC now owns 35,019 shares of the company's stock valued at $5,722,000 after purchasing an additional 14,470 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Live Nation Entertainment by 14.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company's stock worth $88,227,000 after purchasing an additional 78,171 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Live Nation Entertainment by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company's stock worth $455,355,000 after purchasing an additional 123,800 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LYV shares. Wolfe Research upped their price objective on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Live Nation Entertainment in a research note on Thursday, June 4th. Citizens Jmp started coverage on shares of Live Nation Entertainment in a report on Monday, March 30th. They set a "market outperform" rating and a $190.00 price target on the stock. Susquehanna upped their price target on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Finally, Morgan Stanley lifted 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. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $188.50.

Live Nation Entertainment Trading Down 1.1%

NYSE:LYV opened at $168.73 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The company's 50 day moving average is $164.24 and its 200-day moving average is $154.91. The firm has a market cap of $39.74 billion, a price-to-earnings ratio of -95.33 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $176.00.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted 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). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The business's quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares of the company's stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment 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 approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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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