Healthcare of Ontario Pension Plan Trust Fund Takes Position in Sphere Entertainment Co. $SPHR

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Sphere Entertainment Co. (NYSE:SPHR) in the 4th quarter, HoldingsChannel reports. The firm bought 419,742 shares of the company’s stock, valued at approximately $39,909,000.

Several other hedge funds have also bought and sold shares of SPHR. Hollencrest Capital Management bought a new stake in Sphere Entertainment during the fourth quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd lifted its position in Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after purchasing an additional 156 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Sphere Entertainment during the fourth quarter valued at approximately $48,000. Flagship Harbor Advisors LLC bought a new stake in Sphere Entertainment during the fourth quarter valued at approximately $52,000. Finally, NewEdge Advisors LLC lifted its position in Sphere Entertainment by 576.6% during the third quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock valued at $58,000 after purchasing an additional 790 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPHR shares. Bank of America lifted their target price on shares of Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Sphere Entertainment from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “overweight” rating and set a $170.00 target price on shares of Sphere Entertainment in a research report on Wednesday, May 6th. Guggenheim lifted their target price on shares of Sphere Entertainment from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sphere Entertainment has a consensus rating of “Moderate Buy” and an average price target of $145.92.

Sphere Entertainment Trading Down 0.0%

SPHR stock opened at $153.22 on Monday. The company has a market capitalization of $5.44 billion, a PE ratio of 86.08 and a beta of 1.65. Sphere Entertainment Co. has a one year low of $37.89 and a one year high of $154.57. The company’s 50 day moving average price is $134.69 and its two-hundred day moving average price is $112.15. 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 posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.27. The firm had revenue of $386.41 million for 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%. The business’s revenue was up 37.7% compared to the same quarter last year. During the same period last year, the firm posted ($2.27) earnings per share. As a group, analysts predict that Sphere Entertainment Co. will post -2.44 earnings per share for the current fiscal year.

About Sphere Entertainment

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.