Deutsche Bank AG Buys 27,011 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Deutsche Bank AG grew its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,229 shares of the company's stock after acquiring an additional 27,011 shares during the period. Deutsche Bank AG owned about 0.32% of Sphere Entertainment worth $4,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SPHR. Sterling Capital Management LLC grew its position in shares of Sphere Entertainment by 826.1% during the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock valued at $34,000 after acquiring an additional 760 shares during the period. Ancora Advisors LLC bought a new stake in shares of Sphere Entertainment during the 4th quarter valued at $40,000. Tower Research Capital LLC TRC grew its position in shares of Sphere Entertainment by 108.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock valued at $53,000 after acquiring an additional 681 shares during the period. Blue Trust Inc. grew its position in shares of Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after acquiring an additional 912 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in shares of Sphere Entertainment by 18.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 5,793 shares of the company's stock valued at $234,000 after acquiring an additional 893 shares during the period. Institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPHR shares. The Goldman Sachs Group set a $36.00 target price on shares of Sphere Entertainment and gave the company a "buy" rating in a research note on Friday, April 18th. Susquehanna started coverage on shares of Sphere Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $37.00 target price on the stock. Guggenheim lifted their target price on shares of Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Benchmark restated a "sell" rating and set a $35.00 target price on shares of Sphere Entertainment in a research note on Monday, May 19th. Finally, Morgan Stanley lowered their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Sphere Entertainment currently has a consensus rating of "Hold" and a consensus price target of $45.78.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $33.80, for a total transaction of $1,872,013.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 25.08% of the company's stock.

Sphere Entertainment Price Performance

SPHR stock traded down $0.14 during mid-day trading on Friday, hitting $37.45. The company had a trading volume of 454,457 shares, compared to its average volume of 812,355. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.57 and a beta of 1.51. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $30.82 and a 200 day moving average price of $37.51.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.21. The business had revenue of $280.57 million for the quarter, compared to analysts' expectations of $285.01 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The business's quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.33) EPS. On average, research analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

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.