208,418 Shares in Sphere Entertainment Co. $SPHR Acquired by Portolan Capital Management LLC

Key Points

• Portolan Capital established a new position of 208,418 shares in Sphere Entertainment (≈$12.95M) during Q3, representing about 0.58% of the company.
• Sphere beat quarterly expectations with $1.23 EPS (vs. -$0.12 est.) and revenue of $394.3M, up 27.9% year-over-year, but the stock still shows a negative trailing P/E and analysts project a negative full-year EPS.
• Institutional ownership is very high (≈92.03%), with notable moves such as Goldman Sachs increasing its stake to 628,886 shares (+132%); the stock carries a consensus "Moderate Buy" rating and an average target of $106.33.

Portolan Capital Management LLC bought a new position in Sphere Entertainment Co. (NYSE:SPHR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 208,418 shares of the company's stock, valued at approximately $12,947,000. Portolan Capital Management LLC owned approximately 0.58% of Sphere Entertainment at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPHR. Royal Bank of Canada lifted its holdings in shares of Sphere Entertainment by 5.5% in the 1st quarter. Royal Bank of Canada now owns 150,614 shares of the company's stock worth $4,928,000 after acquiring an additional 7,891 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sphere Entertainment by 5.4% in the 1st 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. grew its holdings in shares of Sphere Entertainment by 132.0% during the 1st 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. Envestnet Asset Management Inc. raised its position in Sphere Entertainment by 67.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 69,387 shares of the company's stock worth $2,900,000 after purchasing an additional 27,838 shares during the period. Finally, ProShare Advisors LLC purchased a new position in Sphere Entertainment in the 2nd quarter worth $238,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Trading Down 3.9%

Shares of SPHR opened at $105.65 on Friday. The stock has a market capitalization of $3.75 billion, a P/E ratio of -234.77 and a beta of 1.61. Sphere Entertainment Co. has a twelve month low of $23.89 and a twelve month high of $121.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $103.29 and a two-hundred day simple moving average of $82.05.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $1.35. The firm had revenue of $394.28 million for the quarter, compared to analysts' expectations of $377.60 million. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The company's revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.49) earnings per share. On average, research analysts anticipate that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on SPHR. Craig Hallum restated a "buy" rating and set a $100.00 price target on shares of Sphere Entertainment in a research report on Thursday, December 18th. Benchmark upgraded Sphere Entertainment from a "sell" rating to a "hold" rating in a report on Tuesday, February 17th. Seaport Research Partners raised Sphere Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 8th. The Goldman Sachs Group restated a "buy" rating and set a $126.00 target price on shares of Sphere Entertainment in a report on Friday, February 13th. Finally, New Street Research set a $110.00 price target on Sphere Entertainment in a research report on Thursday, January 15th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $106.33.

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.

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