Vanguard Group Inc. Has $252.27 Million Stock Position in Sphere Entertainment Co. $SPHR

Vanguard Group Inc. trimmed its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 0.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,653,282 shares of the company’s stock after selling 12,679 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Sphere Entertainment worth $252,274,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SPHR. Goldman Sachs Group Inc. raised its position in Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after buying an additional 357,794 shares during the period. Mane Global Capital Management LP acquired a new position in Sphere Entertainment during the third quarter valued at $22,143,000. Woodline Partners LP acquired a new position in Sphere Entertainment during the third quarter valued at $20,503,000. Portolan Capital Management LLC acquired a new position in Sphere Entertainment during the third quarter valued at $12,947,000. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Sphere Entertainment during the third quarter valued at $9,368,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPHR has been the topic of several recent analyst reports. New Street Research set a $110.00 price target on Sphere Entertainment in a research report on Thursday, January 15th. Bank of America upped their target price on Sphere Entertainment from $110.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Guggenheim upped their target price on Sphere Entertainment from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna upped their target price on Sphere Entertainment from $133.00 to $159.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Sphere Entertainment from $143.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.92.

Sphere Entertainment Stock Performance

SPHR opened at $133.52 on Friday. The company has a market cap of $4.74 billion, a PE ratio of 75.01 and a beta of 1.69. The stock has a 50-day moving average of $122.01 and a 200-day moving average of $100.23. Sphere Entertainment Co. has a 52-week low of $31.85 and a 52-week high of $149.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.09 and a current ratio of 1.22.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.27. The company had revenue of $386.41 million during the quarter, compared to the consensus estimate of $313.41 million. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The firm’s revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.27) EPS. As a group, equities research analysts forecast that Sphere Entertainment Co. will post -2.57 earnings per share for the current fiscal 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.