Sphere Entertainment Co. $SPHR Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its stake in Sphere Entertainment Co. (NYSE:SPHR) by 31,980.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,248 shares of the company’s stock after buying an additional 19,188 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Sphere Entertainment were worth $3,467,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in shares of Sphere Entertainment during the fourth quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd lifted its stake in Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after acquiring an additional 156 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Sphere Entertainment during the 4th quarter worth approximately $48,000. Parallel Advisors LLC grew its holdings in Sphere Entertainment by 275.0% during the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after acquiring an additional 341 shares in the last quarter. Finally, Vision Retirement LLC increased its position in shares of Sphere Entertainment by 38.0% in the 1st quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after purchasing an additional 133 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPHR has been the topic of a number of analyst reports. Piper Sandler assumed coverage on shares of Sphere Entertainment in a report on Thursday, August 20th. They issued an “overweight” rating and a $185.00 price objective on the stock. Susquehanna boosted their target price on shares of Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a research note on Thursday, June 18th. Guggenheim increased their target price on Sphere Entertainment from $193.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. cut their price target on Sphere Entertainment from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, Benchmark lifted their price target on Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.00.

Sphere Entertainment Stock Performance

NYSE SPHR opened at $142.20 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.22 and a quick ratio of 1.22. Sphere Entertainment Co. has a 1 year low of $47.05 and a 1 year high of $181.63. The company has a market capitalization of $5.11 billion, a PE ratio of -53.06 and a beta of 1.62. The company has a fifty day moving average of $151.51 and a two-hundred day moving average of $137.74.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Thursday, July 30th. The company reported ($1.07) EPS for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.44. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%.The business 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 firm earned $3.39 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that Sphere Entertainment Co. will post -2.34 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.