North Star Investment Management Corp. Has $5.88 Million Position in Sphere Entertainment Co. $SPHR

Key Points

• North Star Investment Management Corp. increased its position in Sphere Entertainment Co. by 4.7%, owning 140,615 shares valued at approximately $5.88 million.
• Institutional investors hold a significant 92.03% of Sphere Entertainment’s stock, with noteworthy increases from firms like Ariel Investments and Goldman Sachs.
• Sphere Entertainment recently reported earnings of $3.39 EPS, exceeding expectations and showing a 3.4% year-over-year revenue increase to $282.68 million.

North Star Investment Management Corp. boosted its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 4.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,615 shares of the company's stock after purchasing an additional 6,310 shares during the quarter. North Star Investment Management Corp. owned 0.39% of Sphere Entertainment worth $5,878,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Ariel Investments LLC grew its holdings in Sphere Entertainment by 9.6% during the first quarter. Ariel Investments LLC now owns 6,298,139 shares of the company's stock valued at $206,075,000 after purchasing an additional 553,947 shares during the period. Goldman Sachs Group Inc. lifted its stake in Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company's stock valued at $20,577,000 after buying an additional 357,794 shares in the last quarter. Northern Trust Corp lifted its stake in Sphere Entertainment by 41.2% in the first quarter. Northern Trust Corp now owns 523,839 shares of the company's stock valued at $17,140,000 after buying an additional 152,893 shares in the last quarter. Deutsche Bank AG lifted its stake in Sphere Entertainment by 292.8% in the first quarter. Deutsche Bank AG now owns 448,729 shares of the company's stock valued at $14,682,000 after buying an additional 334,500 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Sphere Entertainment by 1.1% in the first quarter. Bridgeway Capital Management LLC now owns 353,515 shares of the company's stock valued at $11,567,000 after buying an additional 3,717 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Sphere Entertainment Stock Performance

NYSE SPHR opened at $59.14 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average price is $47.04 and its two-hundred day moving average price is $38.93. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year high of $62.85. The firm has a market capitalization of $2.12 billion, a P/E ratio of -11.12 and a beta of 1.74.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SPHR shares. Guggenheim lifted their price target on shares of Sphere Entertainment from $75.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Wall Street Zen raised shares of Sphere Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Morgan Stanley lifted their price target on shares of Sphere Entertainment from $35.00 to $40.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Craig Hallum assumed coverage on shares of Sphere Entertainment in a research note on Monday, June 23rd. They issued a "buy" rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Sphere Entertainment from $50.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Sphere Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Sphere Entertainment 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.

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