Sphere Entertainment Co. (NYSE:SPHR) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Sphere Entertainment Co. (NYSE:SPHRFree Report) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,789,782 shares of the company’s stock after acquiring an additional 100,311 shares during the period. Vanguard Group Inc. owned approximately 7.94% of Sphere Entertainment worth $94,741,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPHR. Dimensional Fund Advisors LP grew its holdings in shares of Sphere Entertainment by 24.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,534,028 shares of the company’s stock worth $52,095,000 after purchasing an additional 299,931 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Sphere Entertainment during the third quarter worth about $7,093,000. Greenhaven Road Investment Management L.P. purchased a new position in shares of Sphere Entertainment during the third quarter worth about $7,068,000. Washington Trust Advisors Inc. purchased a new position in shares of Sphere Entertainment during the fourth quarter worth about $6,291,000. Finally, O Keefe Stevens Advisory Inc. purchased a new position in shares of Sphere Entertainment during the fourth quarter worth about $5,580,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $37.43 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.32 billion, a P/E ratio of 3.44 and a beta of 1.41. Sphere Entertainment Co. has a 52 week low of $27.02 and a 52 week high of $51.83. The company has a 50-day moving average price of $36.86 and a 200 day moving average price of $39.04.

Sphere Entertainment (NYSE:SPHRGet Free Report) last announced its quarterly earnings data on Friday, May 10th. The company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.98). The firm had revenue of $321.33 million during the quarter, compared to analyst estimates of $324.65 million. Sphere Entertainment had a net margin of 43.36% and a return on equity of 8.11%. Sphere Entertainment’s revenue for the quarter was up 98.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.08) EPS. Research analysts predict that Sphere Entertainment Co. will post -4.83 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Seaport Res Ptn lowered Sphere Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 8th. Guggenheim lowered their price target on Sphere Entertainment from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Sphere Entertainment presently has a consensus rating of “Hold” and an average target price of $36.20.

View Our Latest Stock Analysis on Sphere Entertainment

Sphere Entertainment Profile

(Free Report)

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.

Further Reading

Institutional Ownership by Quarter for Sphere Entertainment (NYSE:SPHR)

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