SG Americas Securities LLC increased its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR – Free Report) by 101.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,504 shares of the company’s stock after purchasing an additional 5,799 shares during the quarter. SG Americas Securities LLC’s holdings in Sphere Entertainment were worth $464,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. O Keefe Stevens Advisory Inc. increased its holdings in shares of Sphere Entertainment by 2.5% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 192,144 shares of the company’s stock valued at $7,747,000 after purchasing an additional 4,643 shares during the period. Carnegie Investment Counsel boosted its stake in shares of Sphere Entertainment by 35.1% during the 4th quarter. Carnegie Investment Counsel now owns 225,860 shares of the company’s stock valued at $9,107,000 after buying an additional 58,640 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Sphere Entertainment in the fourth quarter worth $1,238,000. Central Pacific Bank Trust Division raised its holdings in shares of Sphere Entertainment by 5.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company’s stock worth $401,000 after acquiring an additional 500 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Sphere Entertainment by 98.9% during the third quarter. JPMorgan Chase & Co. now owns 78,714 shares of the company’s stock valued at $3,348,000 after purchasing an additional 39,147 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently commented on SPHR shares. Macquarie dropped their price objective on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley reduced their price objective on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Guggenheim lowered their target price on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.75.
Sphere Entertainment Stock Performance
NYSE:SPHR opened at $46.71 on Friday. The firm has a market capitalization of $1.65 billion, a PE ratio of -4.45 and a beta of 1.37. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a 1 year low of $32.10 and a 1 year high of $51.83. The firm’s fifty day simple moving average is $40.64 and its 200 day simple moving average is $42.64.
Sphere Entertainment (NYSE:SPHR – Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.32) by $0.37. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The company had revenue of $227.90 million for the quarter, compared to the consensus estimate of $229.86 million. During the same period last year, the business posted $1.90 earnings per share. The firm’s revenue was up 93.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Sphere Entertainment Co. will post -11.47 EPS for the current year.
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.
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