Systematic Financial Management LP Sells 38,589 Shares of Sphere Entertainment Co. $SPHR

Systematic Financial Management LP trimmed its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 306,434 shares of the company’s stock after selling 38,589 shares during the quarter. Systematic Financial Management LP’s holdings in Sphere Entertainment were worth $29,136,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SPHR. Flagship Harbor Advisors LLC bought a new position in Sphere Entertainment during the 4th quarter valued at about $52,000. NewEdge Advisors LLC grew its holdings in Sphere Entertainment by 576.6% during the 3rd quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock valued at $58,000 after purchasing an additional 790 shares during the last quarter. Quarry LP grew its holdings in Sphere Entertainment by 1,614.0% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock valued at $61,000 after purchasing an additional 920 shares during the last quarter. Larson Financial Group LLC bought a new position in Sphere Entertainment during the 4th quarter valued at about $68,000. Finally, Jones Financial Companies Lllp grew its holdings in Sphere Entertainment by 190.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $72,000 after purchasing an additional 796 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $170.00 price target on shares of Sphere Entertainment in a report on Wednesday, May 6th. Citigroup reiterated an “outperform” rating on shares of Sphere Entertainment in a report on Wednesday, May 6th. Guggenheim upped their price target on shares of Sphere Entertainment from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Bank of America upped their price target on shares of Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, BTIG Research reiterated a “buy” rating and set a $190.00 price target on shares of Sphere Entertainment in a report on Tuesday, May 19th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.92.

Sphere Entertainment Price Performance

Sphere Entertainment stock opened at $129.16 on Friday. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 72.56 and a beta of 1.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.22 and a quick ratio of 1.22. Sphere Entertainment Co. has a 1 year low of $36.32 and a 1 year high of $149.00. The firm has a 50-day moving average of $126.01 and a two-hundred day moving average of $105.12.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.27. The company had revenue of $386.41 million during the quarter, compared to analysts’ expectations of $313.41 million. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the company earned ($2.27) EPS. On average, research analysts forecast that Sphere Entertainment Co. will post -2.48 earnings per share for the current year.

Sphere Entertainment Company 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.