Landscape Capital Management L.L.C. Grows Stock Holdings in Sphere Entertainment Co. $SPHR

Key Points

• Landscape Capital boosted its stake in Sphere Entertainment by 32.9%, buying 60,161 shares to hold 243,176 shares total (about 0.68% of SPHR), a position valued at roughly $15.11 million and its 9th-largest holding.
• Sphere posted a strong quarter, reporting $1.23 EPS vs. a -$0.12 estimate and revenue of $394.3M (vs. $377.6M est.), with revenue up 27.9% year-over-year and the stock trading around $110.17 (market cap ≈ $3.91B).
• Analyst sentiment is mostly positive—8 Buys, 2 Holds and 1 Sell—with a consensus target of $106.33 and institutional investors owning about 92.03% of the company.

Landscape Capital Management L.L.C. boosted its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 32.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 243,176 shares of the company's stock after buying an additional 60,161 shares during the quarter. Sphere Entertainment makes up approximately 1.0% of Landscape Capital Management L.L.C.'s holdings, making the stock its 9th largest holding. Landscape Capital Management L.L.C. owned about 0.68% of Sphere Entertainment worth $15,106,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC bought a new position in Sphere Entertainment in the third quarter valued at about $30,000. ORG Partners LLC lifted its position in Sphere Entertainment by 80.1% during the 3rd quarter. ORG Partners LLC now owns 661 shares of the company's stock valued at $41,000 after purchasing an additional 294 shares during the period. Chesapeake Asset Management LLC bought a new position in shares of Sphere Entertainment in the 3rd quarter valued at about $75,000. Jones Financial Companies Lllp grew its position in shares of Sphere Entertainment by 190.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $72,000 after buying an additional 796 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Sphere Entertainment during the third quarter worth approximately $79,000. Institutional investors own 92.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BTIG Research raised their price target on Sphere Entertainment from $110.00 to $127.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. Wolfe Research reaffirmed an "outperform" rating and issued a $105.00 price target on shares of Sphere Entertainment in a research note on Monday, December 15th. Seaport Research Partners raised shares of Sphere Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 8th. Craig Hallum restated a "buy" rating and set a $100.00 price objective on shares of Sphere Entertainment in a report on Thursday, December 18th. Finally, Benchmark raised shares of Sphere Entertainment from a "sell" rating to a "hold" rating in a research note on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.33.

Sphere Entertainment Stock Up 0.3%

SPHR stock traded up $0.28 during trading hours on Friday, reaching $110.17. 70,633 shares of the stock were exchanged, compared to its average volume of 777,612. The firm's 50-day moving average is $103.06 and its 200-day moving average is $81.63. The company has a market cap of $3.91 billion, a price-to-earnings ratio of -244.47 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09. Sphere Entertainment Co. has a 12 month low of $23.89 and a 12 month high of $121.93.

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

About Sphere Entertainment

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.