Deutsche Bank AG Purchases 334,500 Shares of Sphere Entertainment Co. $SPHR

Key Points

• Deutsche Bank AG increased its stake in Sphere Entertainment Co. by 292.8% during the 1st quarter, acquiring an additional 334,500 shares, bringing its total ownership to approximately 1.25% worth $14.68 million.
• Analysts have mixed ratings on Sphere Entertainment, with one issuing a sell rating and price targets ranging from $35.00 to $74.00, highlighting a consensus rating of "Hold" and a target price of $49.50.
• Sphere Entertainment posted earnings of $3.39 per share for the last quarter, significantly beating estimates, and reported a revenue of $282.68 million, up 3.4% from the same quarter last year.

Deutsche Bank AG boosted its stake in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 292.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 448,729 shares of the company's stock after purchasing an additional 334,500 shares during the period. Deutsche Bank AG owned about 1.25% of Sphere Entertainment worth $14,682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in shares of Sphere Entertainment by 826.1% in the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock valued at $34,000 after buying an additional 760 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Sphere Entertainment in the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC grew its stake in shares of Sphere Entertainment by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock valued at $53,000 after buying an additional 681 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Sphere Entertainment in the 4th quarter valued at about $93,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Sphere Entertainment in the 4th quarter worth about $202,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Stock Performance

Sphere Entertainment stock traded up $1.59 during trading on Monday, hitting $41.46. The stock had a trading volume of 228,691 shares, compared to its average volume of 802,778. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year high of $50.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average is $41.73 and its two-hundred day moving average is $37.66. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -7.73 and a beta of 1.71.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of ($1.57) by $4.96. Sphere Entertainment had a negative return on equity of 19.27% and a negative net margin of 14.68%. The business had revenue of $282.68 million for the quarter, compared to the consensus estimate of $280.23 million. During the same quarter in the prior year, the business earned ($2.00) earnings per share. Sphere Entertainment's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPHR. Guggenheim lifted their price target on Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Susquehanna began coverage on Sphere Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $37.00 price target for the company. Craig Hallum began coverage on Sphere Entertainment in a research note on Monday, June 23rd. They set a "buy" rating and a $75.00 price target for the company. Wall Street Zen upgraded Sphere Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Morgan Stanley lifted their price target on Sphere Entertainment from $35.00 to $40.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $49.50.

Sphere Entertainment Company Profile

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.