Capitolis Liquid Global Markets LLC Invests $9.37 Million in Sphere Entertainment Co. $SPHR

Capitolis Liquid Global Markets LLC acquired a new position in Sphere Entertainment Co. (NYSE:SPHR) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 150,800 shares of the company’s stock, valued at approximately $9,368,000. Capitolis Liquid Global Markets LLC owned approximately 0.43% of Sphere Entertainment as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SPHR. Arizona State Retirement System raised its position in Sphere Entertainment by 2.0% during the third quarter. Arizona State Retirement System now owns 7,758 shares of the company’s stock worth $482,000 after acquiring an additional 152 shares during the last quarter. ORG Partners LLC grew its position in shares of Sphere Entertainment by 80.1% in the third quarter. ORG Partners LLC now owns 661 shares of the company’s stock valued at $41,000 after purchasing an additional 294 shares during the last quarter. First Trust Advisors LP grew its position in shares of Sphere Entertainment by 1.6% in the second quarter. First Trust Advisors LP now owns 20,610 shares of the company’s stock valued at $861,000 after purchasing an additional 315 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Sphere Entertainment by 3.9% during the 3rd quarter. AlphaQuest LLC now owns 8,461 shares of the company’s stock worth $526,000 after purchasing an additional 321 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Sphere Entertainment during the 3rd quarter worth approximately $30,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SPHR shares. Guggenheim upped their target price on Sphere Entertainment from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Bank of America raised their price target on Sphere Entertainment from $48.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. National Bank Financial set a $136.00 price target on Sphere Entertainment in a report on Thursday, January 22nd. Morgan Stanley restated an “overweight” rating and issued a $135.00 price objective on shares of Sphere Entertainment in a research report on Friday, February 13th. Finally, Seaport Research Partners raised Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

Sphere Entertainment Stock Down 3.9%

Shares of NYSE SPHR opened at $105.65 on Monday. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year high of $121.93. The firm’s 50 day moving average price is $103.29 and its 200 day moving average price is $82.59. The firm has a market cap of $3.75 billion, a P/E ratio of -234.77 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The company had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. During the same period in the previous year, the firm posted ($3.49) EPS. Sphere Entertainment’s revenue was up 27.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

About Sphere Entertainment

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.