17,011 Shares in Sphere Entertainment Co. $SPHR Bought by Capula Management Ltd

Key Points

• Capula Management Ltd bought a new stake in Sphere Entertainment during the first quarter, purchasing 17,011 shares worth about $2.0 million.
• Institutional interest in SPHR remains high, with hedge funds and asset managers such as Goldman Sachs, Royal Bank of Canada, and Norges Bank also adjusting positions. Overall, 92.03% of the stock is owned by institutional investors.
• Analysts are broadly bullish on the stock, with 11 Buy ratings and 2 Hold ratings; several firms recently raised price targets, and the consensus target price is $163.08.

Capula Management Ltd purchased a new stake in Sphere Entertainment Co. (NYSE:SPHR - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 17,011 shares of the company's stock, valued at approximately $1,997,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Sphere Entertainment by 5.5% during the 1st quarter. Royal Bank of Canada now owns 150,614 shares of the company's stock valued at $4,928,000 after acquiring an additional 7,891 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sphere Entertainment by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company's stock valued at $532,000 after purchasing an additional 831 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company's stock valued at $20,577,000 after purchasing an additional 357,794 shares during the last quarter. Legal & General Group Plc lifted its position in Sphere Entertainment by 11.2% during the second quarter. Legal & General Group Plc now owns 30,752 shares of the company's stock valued at $1,285,000 after purchasing an additional 3,103 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Sphere Entertainment in the 2nd quarter worth $551,000. 92.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPHR. Susquehanna increased their price target on Sphere Entertainment from $159.00 to $182.00 and gave the company a "positive" rating in a report on Thursday, June 18th. The Goldman Sachs Group raised their price objective on shares of Sphere Entertainment from $150.00 to $189.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Guggenheim boosted their target price on 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 set a $170.00 target price on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Finally, Citizens Jmp upped their price objective on Sphere Entertainment from $175.00 to $200.00 and gave the company a "market outperform" rating in a research report on Wednesday, June 17th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $163.08.

Sphere Entertainment Trading Down 3.2%

Shares of NYSE SPHR opened at $133.82 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $146.75 and a two-hundred day simple moving average of $125.25. The firm has a market cap of $4.75 billion, a PE ratio of 75.18 and a beta of 1.61. Sphere Entertainment Co. has a twelve month low of $37.89 and a twelve month high of $174.60.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.27. The business 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%.During the same quarter in the prior year, the company earned ($2.27) EPS. The business's revenue was up 37.7% compared to the same quarter last year. Analysts expect that Sphere Entertainment Co. will post -2.44 earnings per share for the current fiscal 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.

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