6,875 Shares in Sphere Entertainment Co. $SPHR Purchased by Intrepid Financial Planning Group LLC

Intrepid Financial Planning Group LLC bought a new position in Sphere Entertainment Co. (NYSE:SPHR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,875 shares of the company’s stock, valued at approximately $427,000.

Other large investors have also recently modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Sphere Entertainment during the third quarter worth about $30,000. ORG Partners LLC raised its stake in Sphere Entertainment by 80.1% in the third quarter. ORG Partners LLC now owns 661 shares of the company’s stock valued at $41,000 after purchasing an additional 294 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Sphere Entertainment by 190.0% during the third quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $72,000 after purchasing an additional 796 shares during the last quarter. Chesapeake Asset Management LLC bought a new stake in Sphere Entertainment during the third quarter valued at approximately $75,000. Finally, Federated Hermes Inc. purchased a new position in Sphere Entertainment in the 3rd quarter worth approximately $79,000. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Trading Down 1.1%

SPHR stock opened at $113.80 on Thursday. The company has a market capitalization of $4.04 billion, a PE ratio of -252.88 and a beta of 1.61. Sphere Entertainment Co. has a one year low of $23.89 and a one year high of $121.93. The company’s 50 day moving average price is $102.76 and its two-hundred day moving average price is $81.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.35. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The company had revenue of $394.28 million during the quarter, compared to analysts’ expectations of $377.60 million. During the same quarter in the prior year, the company earned ($3.49) EPS. The firm’s revenue was up 27.9% on a year-over-year basis. As a group, analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. National Bank Financial set a $136.00 price target on shares of Sphere Entertainment in a report on Thursday, January 22nd. Benchmark upgraded shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Bank of America increased their target price on Sphere Entertainment from $48.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Morgan Stanley restated an “overweight” rating and set a $135.00 price target on shares of Sphere Entertainment in a research report on Friday, February 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $126.00 price target on shares of Sphere Entertainment in a research note on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

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.