Sphere Entertainment Co. $SPHR Stock Holdings Increased by Entropy Technologies LP

Entropy Technologies LP lifted its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 75.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,403 shares of the company’s stock after acquiring an additional 4,905 shares during the period. Entropy Technologies LP’s holdings in Sphere Entertainment were worth $1,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPHR. Rockefeller Capital Management L.P. raised its position in shares of Sphere Entertainment by 19.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock worth $58,000 after purchasing an additional 100 shares during the period. Vision Retirement LLC boosted its stake in Sphere Entertainment by 38.0% during the 1st quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after purchasing an additional 133 shares during the period. Price T Rowe Associates Inc. MD grew its position in Sphere Entertainment by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock worth $3,448,000 after purchasing an additional 145 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Sphere Entertainment by 53.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after purchasing an additional 156 shares during the last quarter. Finally, Putney Financial Group LLC increased its stake in shares of Sphere Entertainment by 4.2% in the fourth quarter. Putney Financial Group LLC now owns 4,475 shares of the company’s stock valued at $425,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Trading Up 2.8%

Shares of NYSE:SPHR opened at $140.05 on Tuesday. The firm has a fifty day moving average of $146.85 and a two-hundred day moving average of $125.89. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.33. Sphere Entertainment Co. has a 12-month low of $37.89 and a 12-month high of $174.60. The firm has a market capitalization of $4.97 billion, a P/E ratio of 78.68 and a beta of 1.61.

Sphere Entertainment (NYSE:SPHR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.27. The company had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business’s revenue was up 37.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.27) EPS. On average, equities analysts expect that Sphere Entertainment Co. will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPHR has been the topic of a number of recent analyst reports. New Street Research set a $188.00 price target on Sphere Entertainment in a report on Tuesday, July 14th. Bank of America increased their price objective on Sphere Entertainment from $110.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. BTIG Research reissued a “buy” rating and set a $190.00 target price on shares of Sphere Entertainment in a research note on Monday. Susquehanna lifted their price target on Sphere Entertainment from $159.00 to $182.00 and gave the company a “positive” rating in a research report on Thursday, June 18th. Finally, Citizens Jmp boosted their target price on shares of Sphere Entertainment from $175.00 to $200.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 17th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.08.

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.