Sphere Entertainment Co. (NYSE:SPHR) Stock Holdings Boosted by Empowered Funds LLC

Empowered Funds LLC lifted its position in Sphere Entertainment Co. (NYSE:SPHR) by 5.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,798 shares of the company’s stock after buying an additional 8,751 shares during the period. Empowered Funds LLC’s holdings in Sphere Entertainment were worth $7,249,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after acquiring an additional 912 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock worth $111,000 after purchasing an additional 810 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sphere Entertainment during the third quarter valued at $187,000. Concurrent Investment Advisors LLC acquired a new position in shares of Sphere Entertainment in the 3rd quarter valued at $216,000. Finally, Tidal Investments LLC purchased a new position in Sphere Entertainment in the 3rd quarter worth about $225,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 0.5 %

Sphere Entertainment stock opened at $47.69 on Tuesday. Sphere Entertainment Co. has a twelve month low of $32.10 and a twelve month high of $51.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $1.69 billion, a PE ratio of -4.54 and a beta of 1.39. The firm’s 50 day moving average price is $41.22 and its two-hundred day moving average price is $42.71.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.37. The business had revenue of $227.90 million for the quarter, compared to the consensus estimate of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. Sphere Entertainment’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. On average, research analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on SPHR. Macquarie reduced their price objective on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Guggenheim reduced their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Morgan Stanley lowered their price objective on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.75.

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.