Osbon Capital Management LLC Invests $737,000 in Sphere Entertainment Co. $SPHR

Osbon Capital Management LLC purchased a new stake in Sphere Entertainment Co. (NYSE:SPHR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,751 shares of the company’s stock, valued at approximately $737,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPHR. Legato Capital Management LLC purchased a new position in Sphere Entertainment during the third quarter valued at approximately $661,000. Stratos Wealth Partners LTD. lifted its stake in Sphere Entertainment by 141.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 27,947 shares of the company’s stock worth $2,657,000 after purchasing an additional 16,351 shares in the last quarter. Kelleher Financial Advisors bought a new position in Sphere Entertainment in the 4th quarter valued at $389,000. Pinnbrook Capital Management LP bought a new position in Sphere Entertainment in the 3rd quarter valued at $3,045,000. Finally, Citigroup Inc. grew its position in shares of Sphere Entertainment by 94.0% during the 3rd quarter. Citigroup Inc. now owns 50,592 shares of the company’s stock valued at $3,143,000 after purchasing an additional 24,520 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Stock Up 0.2%

SPHR opened at $157.68 on Friday. Sphere Entertainment Co. has a 12 month low of $37.89 and a 12 month high of $160.36. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $137.52 and its 200-day moving average price is $114.47. The company has a market cap of $5.60 billion, a P/E ratio of 88.59 and a beta of 1.64.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPHR. Susquehanna increased their price objective on Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a research report on Thursday. Benchmark raised their target price on shares of Sphere Entertainment from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday. Citizens Jmp boosted their price target on shares of Sphere Entertainment from $175.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Bank of America raised their price target on Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, The Goldman Sachs Group increased their price target on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sphere Entertainment has an average rating of “Moderate Buy” and a consensus price target of $151.15.

Sphere Entertainment Company 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.