Kelleher Financial Advisors Makes New $389,000 Investment in Sphere Entertainment Co. $SPHR

Kelleher Financial Advisors acquired a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,091 shares of the company’s stock, valued at approximately $389,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ariel Investments LLC raised its stake in shares of Sphere Entertainment by 12.7% in the second quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock valued at $296,790,000 after purchasing an additional 802,098 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after buying an additional 357,794 shares in the last quarter. Mane Global Capital Management LP bought a new stake in Sphere Entertainment in the 3rd quarter valued at $22,143,000. Woodline Partners LP bought a new stake in Sphere Entertainment in the 3rd quarter valued at $20,503,000. Finally, Portolan Capital Management LLC acquired a new position in shares of Sphere Entertainment in the 3rd quarter valued at $12,947,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SPHR. Citizens Jmp initiated coverage on shares of Sphere Entertainment in a report on Monday, March 30th. They set an “outperform” rating and a $150.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $126.00 price target on shares of Sphere Entertainment in a research report on Friday, February 13th. New Street Research set a $110.00 price target on shares of Sphere Entertainment in a research note on Thursday, January 15th. Craig Hallum reaffirmed a “buy” rating and set a $100.00 price objective on shares of Sphere Entertainment in a report on Thursday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.46.

Sphere Entertainment Trading Down 0.1%

SPHR opened at $127.04 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $4.51 billion, a PE ratio of -282.32 and a beta of 1.67. Sphere Entertainment Co. has a 1-year low of $23.89 and a 1-year high of $127.41. The firm has a 50-day moving average price of $108.87 and a two-hundred day moving average price of $88.89.

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