12,828 Shares in Sphere Entertainment Co. $SPHR Bought by Ninepoint Partners LP

Ninepoint Partners LP bought a new position in Sphere Entertainment Co. (NYSE:SPHR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 12,828 shares of the company’s stock, valued at approximately $2,220,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SPHR. GAMMA Investing LLC grew its position in shares of Sphere Entertainment by 7.1% during the second quarter. GAMMA Investing LLC now owns 961 shares of the company’s stock worth $166,000 after acquiring an additional 64 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Sphere Entertainment by 19.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the period. Vision Retirement LLC grew its position in Sphere Entertainment by 38.0% in the 1st quarter. Vision Retirement LLC now owns 483 shares of the company’s stock worth $57,000 after purchasing an additional 133 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Sphere Entertainment by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock worth $3,448,000 after purchasing an additional 145 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Shares of NYSE SPHR opened at $155.94 on Friday. Sphere Entertainment Co. has a twelve month low of $39.52 and a twelve month high of $181.63. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $154.34 and a two-hundred day moving average of $133.87. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -58.19 and a beta of 1.65.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.44. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The company 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 company posted $3.39 EPS. 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 -2.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Guggenheim boosted their price objective on Sphere Entertainment from $188.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. New Street Research set a $188.00 price target on Sphere Entertainment in a research note on Tuesday, July 14th. BTIG Research restated a “buy” rating and set a $190.00 price objective on shares of Sphere Entertainment in a research note on Monday, August 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 target price on shares of Sphere Entertainment in a research report on Wednesday, May 6th. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $191.00 price target on shares of Sphere Entertainment in a research note on Thursday, August 13th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.93.

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.