O Keefe Stevens Advisory Inc. Has $8.70 Million Stock Position in Sphere Entertainment Co. $SPHR

O Keefe Stevens Advisory Inc. raised its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 208,182 shares of the company’s stock after acquiring an additional 9,386 shares during the quarter. Sphere Entertainment makes up about 2.4% of O Keefe Stevens Advisory Inc.’s portfolio, making the stock its 18th largest holding. O Keefe Stevens Advisory Inc.’s holdings in Sphere Entertainment were worth $8,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPHR. GAMMA Investing LLC boosted its stake in shares of Sphere Entertainment by 95.3% in the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock valued at $31,000 after purchasing an additional 363 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Sphere Entertainment in the 4th quarter valued at $93,000. Headlands Technologies LLC bought a new stake in shares of Sphere Entertainment in the 1st quarter valued at $123,000. Janney Montgomery Scott LLC bought a new stake in shares of Sphere Entertainment in the 1st quarter valued at $225,000. Finally, Everstar Asset Management LLC bought a new stake in shares of Sphere Entertainment in the 1st quarter valued at $262,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPHR. The Goldman Sachs Group upped their price objective on shares of Sphere Entertainment from $50.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Morgan Stanley increased their target price on shares of Sphere Entertainment from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Craig Hallum began coverage on shares of Sphere Entertainment in a research note on Monday, June 23rd. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Guggenheim raised their price objective on shares of Sphere Entertainment from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $53.25.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $63.08 on Friday. The firm has a 50-day moving average of $49.33 and a 200-day moving average of $40.43. The company has a market cap of $2.26 billion, a P/E ratio of -11.86 and a beta of 1.79. 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 one year low of $23.89 and a one year high of $68.00.

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

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.