Sphere Entertainment Co. $SPHR Stock Position Cut by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 91.6% in the third quarter, Holdings Channel.com reports. The fund owned 3,788 shares of the company’s stock after selling 41,509 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Sphere Entertainment were worth $509,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Polaris Financial Partners purchased a new stake in Sphere Entertainment in the third quarter worth $43,000. Nykredit A S bought a new stake in shares of Sphere Entertainment during the second quarter worth $79,000. Parallel Advisors LLC lifted its position in shares of Sphere Entertainment by 275.0% during the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after purchasing an additional 341 shares during the last quarter. Vision Retirement LLC lifted its position in shares of Sphere Entertainment by 38.0% during the first 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. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Sphere Entertainment by 19.7% during the fourth 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. Institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SPHR shares. Wall Street Zen cut shares of Sphere Entertainment from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings downgraded shares of Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Susquehanna decreased their price objective on shares of Sphere Entertainment from $182.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $145.00 price objective (down from $185.00) on shares of Sphere Entertainment in a report on Friday. Finally, Wells Fargo & Company set a $200.00 price objective on shares of Sphere Entertainment in a research report on Tuesday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $162.27.

Sphere Entertainment Stock Up 1.2%

Shares of NYSE SPHR opened at $110.21 on Tuesday. Sphere Entertainment Co. has a 52-week low of $64.00 and a 52-week high of $181.63. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -41.12 and a beta of 1.61. The stock has a 50 day moving average price of $134.25 and a 200 day moving average price of $129.62. 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 (NYSE:SPHR) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.07) EPS for the quarter, topping the consensus estimate of ($1.51) by $0.44. The company had revenue of $313.64 million for the quarter, compared to the consensus estimate of $307.44 million. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%. Sphere Entertainment’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $3.39 EPS. Sell-side analysts expect that Sphere Entertainment Co. will post -2.54 earnings per share for the current year.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.