New York State Common Retirement Fund Has $1.29 Million Stock Position in Sphere Entertainment Co. $SPHR

New York State Common Retirement Fund boosted its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 146.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,784 shares of the company’s stock after purchasing an additional 12,338 shares during the quarter. New York State Common Retirement Fund’s holdings in Sphere Entertainment were worth $1,291,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SPHR. Federated Hermes Inc. bought a new position in shares of Sphere Entertainment during the 3rd quarter worth about $79,000. Quent Capital LLC acquired a new position in shares of Sphere Entertainment during the third quarter valued at about $30,000. Philip James Wealth Mangement LLC bought a new stake in shares of Sphere Entertainment in the third quarter valued at about $440,000. ORG Partners LLC grew its position in Sphere Entertainment by 80.1% during the third quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after buying an additional 294 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Sphere Entertainment during the third quarter valued at about $2,937,000. 92.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on SPHR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere Entertainment in a report on Wednesday, January 21st. Seaport Research Partners upgraded Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. raised their target price on Sphere Entertainment from $91.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. National Bankshares set a $136.00 price target on shares of Sphere Entertainment in a report on Thursday, January 22nd. Finally, New Street Research set a $110.00 price objective on shares of Sphere Entertainment in a research note on Thursday, January 15th. Eight 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.38.

Sphere Entertainment Price Performance

Shares of SPHR stock opened at $94.70 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day simple moving average is $92.43 and its 200 day simple moving average is $70.59. Sphere Entertainment Co. has a one year low of $23.89 and a one year high of $101.89. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -18.32 and a beta of 1.68.

Sphere Entertainment 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.