O Keefe Stevens Advisory Inc. Has $15.94 Million Holdings in Sphere Entertainment Co. $SPHR

O Keefe Stevens Advisory Inc. lessened its position in Sphere Entertainment Co. (NYSE:SPHR) by 18.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 167,623 shares of the company’s stock after selling 39,071 shares during the quarter. Sphere Entertainment makes up about 4.1% of O Keefe Stevens Advisory Inc.’s investment portfolio, making the stock its 8th largest holding. O Keefe Stevens Advisory Inc. owned about 0.47% of Sphere Entertainment worth $15,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in Sphere Entertainment in the third quarter worth $30,000. ORG Partners LLC boosted its holdings in shares of Sphere Entertainment by 80.1% during the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock valued at $41,000 after buying an additional 294 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Sphere Entertainment by 576.6% in the 3rd quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock worth $58,000 after buying an additional 790 shares during the period. Quarry LP increased its stake in shares of Sphere Entertainment by 1,614.0% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $61,000 after acquiring an additional 920 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Sphere Entertainment by 190.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $72,000 after acquiring an additional 796 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPHR has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and set a $135.00 price objective on shares of Sphere Entertainment in a research note on Friday, February 13th. National Bank Financial set a $136.00 target price on shares of Sphere Entertainment in a report on Thursday, January 22nd. BTIG Research boosted their price target on Sphere Entertainment from $110.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Wolfe Research restated an “outperform” rating and issued a $105.00 price target on shares of Sphere Entertainment in a research note on Monday, December 15th. Finally, Guggenheim raised their price objective on Sphere Entertainment from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sphere Entertainment currently has an average rating of “Moderate Buy” and an average target price of $106.33.

Sphere Entertainment Trading Down 4.8%

Shares of NYSE SPHR opened at $107.45 on Monday. The firm’s 50 day moving average price is $105.06 and its 200-day moving average price is $84.87. The company has a market cap of $3.81 billion, a PE ratio of -238.78 and a beta of 1.61. Sphere Entertainment Co. has a 52-week low of $23.89 and a 52-week high of $121.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The company had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. During the same quarter last year, the firm earned ($3.49) earnings per share. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. On average, equities research analysts expect that Sphere Entertainment Co. will post -11.47 EPS 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.