SG Americas Securities LLC Takes Position in Sphere Entertainment Co. $SPHR

SG Americas Securities LLC acquired a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 47,281 shares of the company’s stock, valued at approximately $2,937,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Sphere Entertainment by 1.6% during the 2nd quarter. First Trust Advisors LP now owns 20,610 shares of the company’s stock valued at $861,000 after acquiring an additional 315 shares during the period. GAMMA Investing LLC increased its stake in Sphere Entertainment by 95.3% during the second quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock worth $31,000 after purchasing an additional 363 shares during the period. CWM LLC lifted its position in shares of Sphere Entertainment by 915.3% during the second quarter. CWM LLC now owns 731 shares of the company’s stock worth $31,000 after purchasing an additional 659 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position 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 purchasing an additional 712 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake 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 purchasing an additional 809 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Sphere Entertainment from $80.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Benchmark lifted their price objective on Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, November 5th. Craig Hallum reissued a “buy” rating and set a $100.00 price objective on shares of Sphere Entertainment in a research report on Thursday, December 18th. Seaport Res Ptn raised shares of Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Morgan Stanley upgraded shares of Sphere Entertainment from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $105.00 in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.60.

Sphere Entertainment Stock Down 0.5%

Shares of NYSE:SPHR opened at $94.82 on Tuesday. Sphere Entertainment Co. has a fifty-two week low of $23.89 and a fifty-two week high of $97.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $85.50 and its 200-day simple moving average is $63.35. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -18.34 and a beta of 1.71.

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.