Systematic Financial Management LP Lowers Stock Holdings in Sphere Entertainment Co. $SPHR

Systematic Financial Management LP reduced its stake in Sphere Entertainment Co. (NYSE:SPHR) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 306,434 shares of the company’s stock after selling 38,589 shares during the period. Systematic Financial Management LP owned approximately 0.87% of Sphere Entertainment worth $29,136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legato Capital Management LLC bought a new stake in Sphere Entertainment in the 3rd quarter valued at $661,000. Kelleher Financial Advisors bought a new stake in Sphere Entertainment in the 4th quarter valued at $389,000. Stratos Wealth Partners LTD. increased its holdings in Sphere Entertainment by 141.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 27,947 shares of the company’s stock valued at $2,657,000 after acquiring an additional 16,351 shares during the last quarter. Citigroup Inc. increased its holdings in Sphere Entertainment by 94.0% in the 3rd quarter. Citigroup Inc. now owns 50,592 shares of the company’s stock valued at $3,143,000 after acquiring an additional 24,520 shares during the last quarter. Finally, Pinnbrook Capital Management LP bought a new stake in Sphere Entertainment in the 3rd quarter valued at $3,045,000. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Stock Performance

Sphere Entertainment stock opened at $129.16 on Friday. The company’s 50-day moving average price is $126.01 and its 200-day moving average price is $105.12. Sphere Entertainment Co. has a twelve month low of $36.32 and a twelve month high of $149.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.33. The company has a market cap of $4.59 billion, a PE ratio of 72.56 and a beta of 1.69.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The firm had revenue of $386.41 million for the quarter, compared to the consensus estimate of $313.41 million. During the same period in the previous year, the firm posted ($2.27) EPS. The business’s quarterly revenue was up 37.7% on a year-over-year basis. On average, equities research analysts forecast that Sphere Entertainment Co. will post -2.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SPHR. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 price target on shares of Sphere Entertainment in a report on Wednesday, May 6th. Guggenheim lifted their price target on shares of Sphere Entertainment from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $190.00 price target on shares of Sphere Entertainment in a report on Tuesday, May 19th. Citizens Jmp lifted their price target on shares of Sphere Entertainment from $150.00 to $175.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Finally, Benchmark upgraded shares of Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Sphere Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $145.92.

Sphere Entertainment Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.