Sphere Entertainment Co. $SPHR Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in Sphere Entertainment Co. (NYSE:SPHR) by 84.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,822 shares of the company’s stock after acquiring an additional 16,907 shares during the period. Quantinno Capital Management LP owned 0.10% of Sphere Entertainment worth $4,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SPHR. Hollencrest Capital Management bought a new stake in shares of Sphere Entertainment in the 4th quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd lifted its stake in Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after buying an additional 156 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Sphere Entertainment during the fourth quarter valued at $48,000. Flagship Harbor Advisors LLC bought a new position in shares of Sphere Entertainment during the fourth quarter worth about $52,000. Finally, Parallel Advisors LLC grew its position in shares of Sphere Entertainment by 275.0% during the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after acquiring an additional 341 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Stock Up 3.5%

Sphere Entertainment stock opened at $159.56 on Friday. Sphere Entertainment Co. has a 52 week low of $37.89 and a 52 week high of $174.60. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -59.54 and a beta of 1.65. The company’s 50-day moving average price is $150.07 and its two-hundred day moving average price is $129.17. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.44. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The company had revenue of $313.64 million during the quarter, compared to analyst estimates of $307.44 million. During the same period in the prior year, the business posted $3.39 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts expect that Sphere Entertainment Co. will post -2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SPHR. Weiss Ratings raised shares of Sphere Entertainment from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. New Street Research set a $188.00 price objective on Sphere Entertainment in a research report on Tuesday, July 14th. Susquehanna increased their price objective on Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a report on Thursday, June 18th. Guggenheim raised their target price on Sphere Entertainment from $188.00 to $193.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 target price on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sphere Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $163.38.

About Sphere Entertainment

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.