Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys New Shares in Sphere Entertainment Co. $SPHR

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) in the 1st quarter, Holdings Channel reports. The firm purchased 6,586 shares of the company’s stock, valued at approximately $773,000.

A number of other large investors also recently bought and sold shares of SPHR. Stratos Wealth Partners LTD. raised its position in shares of Sphere Entertainment by 141.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 27,947 shares of the company’s stock worth $2,657,000 after buying an additional 16,351 shares during the period. Kelleher Financial Advisors purchased a new stake in Sphere Entertainment during the fourth quarter valued at about $389,000. SG Americas Securities LLC increased its stake in Sphere Entertainment by 84.6% during the fourth quarter. SG Americas Securities LLC now owns 87,283 shares of the company’s stock worth $8,299,000 after acquiring an additional 40,002 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in Sphere Entertainment during the fourth quarter worth about $1,694,000. Finally, Quent Capital LLC raised its holdings in shares of Sphere Entertainment by 2,083.3% in the 4th quarter. Quent Capital LLC now owns 10,480 shares of the company’s stock worth $996,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SPHR shares. Benchmark lifted their price objective on Sphere Entertainment from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Susquehanna increased their target price on shares of Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a research report on Thursday, June 18th. Citigroup restated a “market outperform” rating on shares of Sphere Entertainment in a report on Wednesday, June 17th. Seaport Research Partners reaffirmed a “buy” rating and set a $173.00 price target on shares of Sphere Entertainment in a research report on Wednesday, June 17th. Finally, Guggenheim boosted their price objective on shares of Sphere Entertainment from $175.00 to $188.00 and gave the stock a “buy” rating in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.92.

Sphere Entertainment Stock Performance

Sphere Entertainment stock opened at $142.46 on Friday. The firm has a market capitalization of $5.06 billion, a PE ratio of 80.03 and a beta of 1.61. Sphere Entertainment Co. has a one year low of $37.89 and a one year high of $174.60. The stock’s 50 day moving average price is $146.31 and its 200 day moving average price is $123.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.22.

Sphere Entertainment (NYSE:SPHR) last issued 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 the consensus estimate of $313.41 million. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. Sphere Entertainment’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter last year, the company earned ($2.27) earnings per share. As a group, sell-side analysts expect that Sphere Entertainment Co. will post -2.44 EPS for the current fiscal 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.