Garner Asset Management Corp Purchases Shares of 5,654 Sphere Entertainment Co. $SPHR

Garner Asset Management Corp acquired a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,654 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors have also recently bought and sold shares of SPHR. GAMMA Investing LLC boosted its stake in Sphere Entertainment by 95.3% during the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock valued at $31,000 after purchasing an additional 363 shares during the period. CWM LLC increased its position in Sphere Entertainment by 915.3% in the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock worth $31,000 after buying an additional 659 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Sphere Entertainment by 12.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,475 shares of the company’s stock worth $271,000 after buying an additional 712 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Sphere Entertainment by 0.4% in the second quarter. Empowered Funds LLC now owns 184,324 shares of the company’s stock valued at $7,705,000 after acquiring an additional 809 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sphere Entertainment by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock worth $532,000 after acquiring an additional 831 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 1.3%

SPHR opened at $82.84 on Friday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -16.02 and a beta of 1.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50-day simple moving average is $67.83 and its 200-day simple moving average is $51.50. Sphere Entertainment Co. has a twelve month low of $23.89 and a twelve month high of $83.30.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a report on Wednesday, October 8th. Benchmark upped their price objective on shares of Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group lifted their target price on Sphere Entertainment from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Guggenheim upped their price target on Sphere Entertainment from $78.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Morgan Stanley raised their price objective on Sphere Entertainment from $40.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.88.

About Sphere Entertainment

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.