Sphere Entertainment Co. $SPHR Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 84.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,822 shares of the company’s stock after buying an additional 16,907 shares during the quarter. Quantinno Capital Management LP’s holdings in Sphere Entertainment were worth $4,323,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP raised its position in Sphere Entertainment by 75.5% in the first quarter. Entropy Technologies LP now owns 11,403 shares of the company’s stock worth $1,339,000 after acquiring an additional 4,905 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Sphere Entertainment by 24.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 523,934 shares of the company’s stock valued at $61,510,000 after purchasing an additional 104,192 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Sphere Entertainment by 149.9% in the 1st quarter. Renaissance Technologies LLC now owns 559,935 shares of the company’s stock worth $65,736,000 after purchasing an additional 335,900 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Sphere Entertainment by 63.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 24,151 shares of the company’s stock worth $2,835,000 after purchasing an additional 9,403 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Sphere Entertainment in the 1st quarter worth approximately $3,621,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Sphere Entertainment Price Performance

SPHR stock opened at $159.56 on Friday. Sphere Entertainment Co. has a one year low of $37.89 and a one year high of $174.60. The firm has a 50-day moving average of $150.07 and a two-hundred day moving average of $129.17. The firm has a market capitalization of $5.66 billion, a PE ratio of -59.54 and a beta of 1.65. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32.

Sphere Entertainment (NYSE:SPHR) last released its earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share 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 business had revenue of $313.64 million for the quarter, compared to the consensus estimate of $307.44 million. During the same period last year, the firm posted $3.39 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts forecast that Sphere Entertainment Co. will post -2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SPHR. Seaport Research Partners reissued a “buy” rating and set a $173.00 target price on shares of Sphere Entertainment in a research note on Wednesday, June 17th. Benchmark lifted their price target on shares of Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Sphere Entertainment in a report on Wednesday, May 6th. Citigroup reiterated a “market outperform” rating on shares of Sphere Entertainment in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group raised their price objective on Sphere Entertainment from $150.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.38.

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.