Sphere Entertainment Co. (NYSE:SPHR) Holdings Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 46.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,560 shares of the company’s stock after acquiring an additional 810 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sphere Entertainment were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in shares of Sphere Entertainment in the 2nd quarter worth $27,000. Summit Securities Group LLC purchased a new position in Sphere Entertainment in the 2nd quarter worth about $54,000. 1832 Asset Management L.P. acquired a new stake in Sphere Entertainment during the 1st quarter worth about $85,000. Quent Capital LLC lifted its stake in Sphere Entertainment by 51.8% during the second quarter. Quent Capital LLC now owns 4,034 shares of the company’s stock valued at $141,000 after buying an additional 1,376 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sphere Entertainment by 36.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,357 shares of the company’s stock worth $188,000 after buying an additional 1,425 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Sphere Entertainment Stock Down 0.4 %

Shares of SPHR stock opened at $41.87 on Tuesday. Sphere Entertainment Co. has a 12 month low of $27.02 and a 12 month high of $51.83. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.48 billion, a PE ratio of -7.40 and a beta of 1.41. The stock has a 50 day moving average of $44.02 and a 200-day moving average of $41.27.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($2.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.47) by $0.47. Sphere Entertainment had a negative net margin of 19.54% and a negative return on equity of 9.02%. The company had revenue of $273.40 million for the quarter, compared to the consensus estimate of $271.28 million. During the same quarter in the previous year, the firm posted $15.43 EPS. The business’s revenue was up 111.8% compared to the same quarter last year. On average, equities analysts predict that Sphere Entertainment Co. will post -9.6 EPS for the current year.

Wall Street Analyst Weigh In

SPHR has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Sphere Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Macquarie restated a “neutral” rating and issued a $47.00 target price on shares of Sphere Entertainment in a report on Wednesday, October 23rd. Guggenheim upped their price target on Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wolfe Research upgraded Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Wednesday, October 2nd. Finally, Benchmark reiterated a “sell” rating and issued a $40.00 target price on shares of Sphere Entertainment in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.71.

Sphere Entertainment Profile

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.