O Keefe Stevens Advisory Inc. Increases Stake in Sphere Entertainment Co. (NYSE:SPHR)

O Keefe Stevens Advisory Inc. boosted its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,796 shares of the company's stock after buying an additional 6,652 shares during the period. Sphere Entertainment comprises 2.1% of O Keefe Stevens Advisory Inc.'s portfolio, making the stock its 17th largest holding. O Keefe Stevens Advisory Inc. owned approximately 0.56% of Sphere Entertainment worth $6,505,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SPHR. Sterling Capital Management LLC lifted its position in 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 purchasing an additional 760 shares during the period. Ancora Advisors LLC bought a new position in shares of Sphere Entertainment during the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC grew its stake in shares of Sphere Entertainment by 108.1% in the fourth 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 in the last quarter. Blue Trust Inc. grew its stake in shares of Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after buying an additional 912 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Sphere Entertainment in the fourth quarter valued at $93,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Insider Transactions at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 25.08% of the company's stock.

Wall Street Analysts Forecast Growth

SPHR has been the subject of several research reports. Macquarie cut their price target on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Susquehanna began coverage on Sphere Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $37.00 price target for the company. Benchmark reissued a "sell" rating and set a $35.00 target price on shares of Sphere Entertainment in a report on Monday, May 19th. Guggenheim lifted their target price on Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their target price on Sphere Entertainment from $54.00 to $55.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Sphere Entertainment currently has an average rating of "Hold" and a consensus target price of $45.78.

Sphere Entertainment Price Performance

SPHR stock traded up $0.86 during midday trading on Thursday, reaching $37.86. The company had a trading volume of 222,501 shares, compared to its average volume of 810,524. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.61 and a beta of 1.51. The stock has a 50 day moving average price of $31.61 and a 200-day moving average price of $37.34. Sphere Entertainment Co. has a 1-year low of $23.89 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56.

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

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.