Poehling Capital Management INC. Has $2.38 Million Holdings in Sphere Entertainment Co. $SPHR

Poehling Capital Management INC. cut its stake in Sphere Entertainment Co. (NYSE:SPHR) by 53.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,031 shares of the company’s stock after selling 28,421 shares during the quarter. Poehling Capital Management INC.’s holdings in Sphere Entertainment were worth $2,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new stake in Sphere Entertainment during the 4th quarter worth about $52,000. Larson Financial Group LLC bought a new stake in Sphere Entertainment during the 4th quarter worth about $68,000. ORG Partners LLC lifted its position in Sphere Entertainment by 35.4% during the 4th quarter. ORG Partners LLC now owns 895 shares of the company’s stock worth $85,000 after buying an additional 234 shares in the last quarter. NewEdge Advisors LLC lifted its position in Sphere Entertainment by 576.6% during the 3rd quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock worth $58,000 after buying an additional 790 shares in the last quarter. Finally, Quarry LP lifted its position in Sphere Entertainment by 1,614.0% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $61,000 after buying an additional 920 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on SPHR. Citigroup reissued an “outperform” rating on shares of Sphere Entertainment in a research report on Wednesday, May 6th. Susquehanna upped their target price on shares of Sphere Entertainment from $133.00 to $159.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Guggenheim upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group upped their target price on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sphere Entertainment currently has an average rating of “Moderate Buy” and an average price target of $145.92.

Sphere Entertainment Stock Down 1.6%

Sphere Entertainment stock opened at $135.21 on Wednesday. The stock has a market cap of $4.80 billion, a P/E ratio of 75.96 and a beta of 1.69. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.33. Sphere Entertainment Co. has a twelve month low of $35.58 and a twelve month high of $149.00. The company’s 50-day moving average price is $125.06 and its two-hundred day moving average price is $104.04.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.27. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The company had revenue of $386.41 million for the quarter, compared to analysts’ expectations of $313.41 million. During the same period last year, the firm earned ($2.27) earnings per share. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. As a group, analysts expect that Sphere Entertainment Co. will post -2.48 EPS 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.