Poehling Capital Management INC. Sells 28,421 Shares of Sphere Entertainment Co. $SPHR

Poehling Capital Management INC. lessened its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 53.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,031 shares of the company’s stock after selling 28,421 shares during the period. Poehling Capital Management INC. owned 0.07% of Sphere Entertainment worth $2,380,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Sphere Entertainment during the 4th quarter worth $52,000. Larson Financial Group LLC acquired a new stake in Sphere Entertainment during the 4th quarter worth $68,000. ORG Partners LLC grew its holdings in Sphere Entertainment by 35.4% during the 4th quarter. ORG Partners LLC now owns 895 shares of the company’s stock worth $85,000 after acquiring an additional 234 shares during the period. NewEdge Advisors LLC grew its holdings in Sphere Entertainment by 576.6% during the 3rd 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. Finally, Quarry LP grew its holdings in Sphere Entertainment by 1,614.0% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $61,000 after acquiring an additional 920 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

SPHR has been the subject of a number of analyst reports. Citizens Jmp lifted their target price on shares of Sphere Entertainment from $150.00 to $175.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Sphere Entertainment in a report on Wednesday, May 6th. Guggenheim boosted their price target on shares of Sphere Entertainment from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group boosted their price target on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, BTIG Research reissued a “buy” rating and issued a $190.00 price target on shares of Sphere Entertainment in a report on Tuesday. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.92.

Sphere Entertainment Price Performance

Shares of SPHR stock opened at $135.21 on Wednesday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 75.96 and a beta of 1.69. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.33. Sphere Entertainment Co. has a 12-month low of $35.58 and a 12-month high of $149.00. The firm has a fifty day moving average of $125.06 and a 200-day moving average of $104.04.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping 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%. The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.27) EPS. On average, equities research analysts forecast that Sphere Entertainment Co. will post -2.48 earnings per share for the current year.

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.