Sphere Entertainment Co. $SPHR Shares Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP boosted its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 34.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 109,395 shares of the company’s stock after acquiring an additional 28,135 shares during the period. Nicholas Investment Partners LP owned about 0.31% of Sphere Entertainment worth $10,401,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SPHR. Hollencrest Capital Management acquired a new position in Sphere Entertainment during the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd raised its position in Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after acquiring an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Sphere Entertainment during the fourth quarter worth $48,000. Flagship Harbor Advisors LLC acquired a new position in Sphere Entertainment during the fourth quarter worth $52,000. Finally, NewEdge Advisors LLC raised its position in Sphere Entertainment by 576.6% during the third quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock worth $58,000 after acquiring an additional 790 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Trading Up 1.6%

Shares of SPHR opened at $153.22 on Friday. The company has a current ratio of 1.22, a quick 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 $154.57. The firm has a 50-day moving average price of $134.69 and a 200 day moving average price of $111.91. The firm has a market capitalization of $5.44 billion, a P/E ratio of 86.08 and a beta of 1.64.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.27. The firm had revenue of $386.41 million during the quarter, compared to analyst estimates of $313.41 million. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. Sphere Entertainment’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.27) earnings per share. Sell-side analysts forecast that Sphere Entertainment Co. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPHR. Benchmark upgraded shares of Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Wednesday, May 6th. Citizens Jmp increased their target price on shares of Sphere Entertainment from $150.00 to $175.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Bank of America increased their target price on shares of Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. BTIG Research reiterated a “buy” rating and issued a $190.00 target price on shares of Sphere Entertainment in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.92.

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.