North Star Investment Management Corp. Sells 33,500 Shares of Sphere Entertainment Co. $SPHR

Key Points

• North Star Investment Management reduced its stake in Sphere Entertainment by 24%, selling 33,500 shares and leaving 106,090 shares worth about $10.09 million (≈0.30% of the company) at quarter-end.
• Other institutions were active too — notably Goldman Sachs boosted its holding by 132% to 628,886 shares, and overall institutional ownership stands at 92.03%.
• Analysts are mostly positive with a consensus "Moderate Buy" and an average target of $120.83, while SPHR traded at $140.36 after a quarter that beat EPS and revenue estimates.

North Star Investment Management Corp. decreased its holdings in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,090 shares of the company's stock after selling 33,500 shares during the period. North Star Investment Management Corp. owned about 0.30% of Sphere Entertainment worth $10,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPHR. Royal Bank of Canada raised its stake in Sphere Entertainment by 5.5% in the first quarter. Royal Bank of Canada now owns 150,614 shares of the company's stock valued at $4,928,000 after buying an additional 7,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sphere Entertainment by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company's stock valued at $532,000 after buying an additional 831 shares during the period. Goldman Sachs Group Inc. raised 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 during the period. Legal & General Group Plc raised its stake in Sphere Entertainment by 11.2% in the second quarter. Legal & General Group Plc now owns 30,752 shares of the company's stock valued at $1,285,000 after buying an additional 3,103 shares during the period. Finally, Norges Bank bought a new stake in Sphere Entertainment in the second quarter valued at approximately $551,000. Institutional investors own 92.03% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on SPHR shares. Morgan Stanley restated an "overweight" rating and issued a $135.00 price objective on shares of Sphere Entertainment in a research note on Friday, February 13th. Guggenheim upped their price objective on Sphere Entertainment from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. New Street Research set a $110.00 target price on Sphere Entertainment in a research note on Thursday, January 15th. Bank of America increased their target price on Sphere Entertainment from $110.00 to $132.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Finally, The Goldman Sachs Group increased their target price on Sphere Entertainment from $126.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.83.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR traded up $1.43 during trading hours on Thursday, reaching $140.36. 80,120 shares of the stock were exchanged, compared to its average volume of 799,633. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -311.65 and a beta of 1.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09. Sphere Entertainment Co. has a 52 week low of $26.54 and a 52 week high of $141.00. The stock's fifty day simple moving average is $119.86 and its 200 day simple moving average is $97.73.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $1.35. The company had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The firm's quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the company earned ($3.49) earnings per share. Sell-side analysts predict that Sphere Entertainment Co. will post -2.51 EPS 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.

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