Sphere Entertainment Co. $SPHR Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 70.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,480 shares of the company’s stock after selling 93,868 shares during the quarter. Squarepoint Ops LLC’s holdings in Sphere Entertainment were worth $6,831,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in shares of Sphere Entertainment in the 4th quarter valued at about $41,000. Caitong International Asset Management Co. Ltd boosted its position in Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after purchasing an additional 156 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Sphere Entertainment in the fourth quarter valued at approximately $48,000. Parallel Advisors LLC grew its holdings in Sphere Entertainment by 275.0% in the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after purchasing an additional 341 shares during the period. Finally, Vision Retirement LLC increased its position in shares of Sphere Entertainment by 38.0% in the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after buying an additional 133 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPHR shares. Guggenheim upped their target price on Sphere Entertainment from $193.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Citizens Jmp lifted their price target on shares of Sphere Entertainment from $175.00 to $200.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 17th. Citigroup reissued a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday, September 1st. Susquehanna upped their price objective on shares of Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a research report on Thursday, June 18th. Finally, Benchmark increased their price objective on shares of Sphere Entertainment from $155.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Sphere Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Sphere Entertainment Stock Up 0.7%

NYSE SPHR opened at $141.94 on Friday. The business has a fifty day moving average price of $149.90 and a 200 day moving average price of $138.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $5.10 billion, a P/E ratio of -52.96 and a beta of 1.62. Sphere Entertainment Co. has a one year low of $54.53 and a one year high of $181.63.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.44. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The company had revenue of $313.64 million for the quarter, compared to analysts’ expectations of $307.44 million. During the same quarter in the previous year, the company posted $3.39 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Research analysts anticipate that Sphere Entertainment Co. will post -2.34 EPS for the current fiscal year.

Sphere Entertainment Company 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.