Healthcare of Ontario Pension Plan Trust Fund Has $61.51 Million Holdings in Sphere Entertainment Co. $SPHR

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 523,934 shares of the company’s stock after purchasing an additional 104,192 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 1.48% of Sphere Entertainment worth $61,510,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in shares of Sphere Entertainment in the 4th quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Sphere Entertainment by 53.1% during the 4th 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 stake in shares of Sphere Entertainment during the 4th quarter worth approximately $48,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Sphere Entertainment during the 4th quarter worth approximately $52,000. Finally, Parallel Advisors LLC increased its stake in Sphere Entertainment by 275.0% in the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $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.

Analysts Set New Price Targets

Several brokerages have commented on SPHR. Guggenheim boosted their price objective on shares of Sphere Entertainment from $175.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Sphere Entertainment in a report on Wednesday, May 6th. Weiss Ratings upgraded Sphere Entertainment from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Bank of America lifted their price target on Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Benchmark upped their price objective on Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.08.

Sphere Entertainment Stock Performance

NYSE SPHR opened at $136.15 on Friday. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 76.49 and a beta of 1.61. 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 twelve month low of $37.89 and a twelve month high of $174.60. The stock has a fifty day simple moving average of $146.79 and a 200 day simple moving average of $125.33.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.27. The firm had revenue of $386.41 million for the quarter, compared to the consensus estimate of $313.41 million. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.27) EPS. Sell-side analysts expect that Sphere Entertainment Co. will post -2.44 EPS 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.