29,490 Shares in Sphere Entertainment Co. $SPHR Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,490 shares of the company’s stock, valued at approximately $1,233,000. Y Intercept Hong Kong Ltd owned approximately 0.08% of Sphere Entertainment at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Ariel Investments LLC grew its position in shares of Sphere Entertainment by 9.6% during the first quarter. Ariel Investments LLC now owns 6,298,139 shares of the company’s stock worth $206,075,000 after purchasing an additional 553,947 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Sphere Entertainment by 132.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after acquiring an additional 357,794 shares during the last quarter. Northern Trust Corp increased its holdings in Sphere Entertainment by 41.2% in the 1st quarter. Northern Trust Corp now owns 523,839 shares of the company’s stock valued at $17,140,000 after acquiring an additional 152,893 shares during the last quarter. Deutsche Bank AG increased its holdings in Sphere Entertainment by 292.8% in the 1st quarter. Deutsche Bank AG now owns 448,729 shares of the company’s stock valued at $14,682,000 after acquiring an additional 334,500 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in Sphere Entertainment by 1.1% in the 1st quarter. Bridgeway Capital Management LLC now owns 353,515 shares of the company’s stock valued at $11,567,000 after acquiring an additional 3,717 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Performance

Sphere Entertainment stock opened at $66.32 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.13 and a quick ratio of 1.13. Sphere Entertainment Co. has a 1-year low of $23.89 and a 1-year high of $69.98. The firm has a market capitalization of $2.37 billion, a P/E ratio of -12.47 and a beta of 1.79. The company’s 50-day moving average is $58.69 and its 200 day moving average is $45.58.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Monday, August 11th. The company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.57) by $4.96. Sphere Entertainment had a negative net margin of 14.68% and a negative return on equity of 19.27%. The company had revenue of $282.68 million for the quarter, compared to analyst estimates of $280.23 million. During the same period in the prior year, the company posted ($2.00) EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Wall Street Analysts Forecast Growth

SPHR has been the topic of a number of research reports. BTIG Research initiated coverage on shares of Sphere Entertainment in a report on Monday, October 6th. They issued a “neutral” rating on the stock. Guggenheim lifted their price target on shares of Sphere Entertainment from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Sphere Entertainment from $40.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sphere Entertainment from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.25.

About Sphere Entertainment

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.