243,376 Sphere Entertainment Co. $SPHR Shares Bought by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 118.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 447,982 shares of the company’s stock after acquiring an additional 243,376 shares during the period. Artemis Investment Management LLP’s holdings in Sphere Entertainment were worth $60,227,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Sphere Entertainment by 7.1% during the second quarter. GAMMA Investing LLC now owns 961 shares of the company’s stock valued at $166,000 after purchasing an additional 64 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Sphere Entertainment by 1.1% in the second quarter. Arizona State Retirement System now owns 7,111 shares of the company’s stock worth $1,230,000 after purchasing an additional 75 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of 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 raised its position in shares of Sphere Entertainment by 38.0% during 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 period. Finally, Corient Private Wealth LP lifted its stake in shares of Sphere Entertainment by 1.3% during the 2nd quarter. Corient Private Wealth LP now owns 15,930 shares of the company’s stock valued at $2,756,000 after buying an additional 198 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SPHR shares. Craig Hallum downgraded shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 target price for the company. in a report on Monday. Guggenheim boosted their price objective on Sphere Entertainment from $193.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. BTIG Research dropped their price objective on Sphere Entertainment from $190.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday. New Street Research set a $188.00 target price on Sphere Entertainment in a research report on Tuesday, July 14th. Finally, Citigroup reissued a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sphere Entertainment has a consensus rating of “Moderate Buy” and an average price target of $168.40.

Sphere Entertainment Price Performance

Shares of SPHR traded up $5.52 during midday trading on Thursday, hitting $111.76. 314,666 shares of the company traded hands, compared to its average volume of 769,718. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of -41.50 and a beta of 1.61. The firm has a 50 day moving average of $146.33 and a 200-day moving average of $141.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22. Sphere Entertainment Co. has a 52 week low of $57.01 and a 52 week high of $181.63.

Sphere Entertainment (NYSE:SPHR) last issued its earnings results 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. The firm had revenue of $313.64 million for the quarter, compared to analysts’ expectations of $307.44 million. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%.The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.39 earnings per share. On average, analysts forecast that Sphere Entertainment Co. will post -2.34 EPS for the current fiscal year.

Sphere Entertainment Profile

Sphere Entertainment Co is an entertainment company focused on developing and operating large-scale live experiences, media properties and venues. Its flagship asset is Sphere, a next-generation entertainment venue in Las Vegas featuring a wraparound interior display, immersive audio and experiential programming. Sphere presents concerts, films, sporting events and other productions designed to combine live performance with advanced visual and audio technology.

The company also operates MSG Networks, a regional sports and entertainment media business serving audiences primarily in the New York metropolitan area.