Pinnbrook Capital Management LP Makes New Investment in Sphere Entertainment Co. $SPHR

Key Points

• Pinnbrook Capital Management LP bought 49,021 shares of Sphere Entertainment (NYSE:SPHR) in Q3, a stake valued at about $3.045 million and representing roughly 0.14% of the company.
• Sphere posted a quarterly surprise—$1.23 EPS vs. a ($0.12) consensus and $394.3M revenue (up 27.9% YoY)—but analysts still forecast a negative full-year EPS (about -11.47), signaling a mixed profitability outlook.
• Analyst sentiment is largely positive (eight Buys, two Holds, one Sell) with an average target of $106.33 and several higher price targets (e.g., Guggenheim $150, Morgan Stanley $135), while institutional investors/hedge funds own roughly 92% of the stock.

Pinnbrook Capital Management LP bought a new stake in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 49,021 shares of the company's stock, valued at approximately $3,045,000. Pinnbrook Capital Management LP owned approximately 0.14% of Sphere Entertainment as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SPHR. Quent Capital LLC bought a new position in shares of Sphere Entertainment during the 3rd quarter worth $30,000. ORG Partners LLC raised its holdings in shares of Sphere Entertainment by 80.1% in the third quarter. ORG Partners LLC now owns 661 shares of the company's stock valued at $41,000 after acquiring an additional 294 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Sphere Entertainment by 190.0% in the third quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $72,000 after acquiring an additional 796 shares in the last quarter. Chesapeake Asset Management LLC purchased a new stake in Sphere Entertainment in the third quarter worth about $75,000. Finally, Federated Hermes Inc. purchased a new stake in Sphere Entertainment in the third quarter worth about $79,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPHR. National Bank Financial set a $136.00 target price on shares of Sphere Entertainment in a research report on Thursday, January 22nd. New Street Research set a $110.00 price target on shares of Sphere Entertainment in a research report on Thursday, January 15th. Benchmark upgraded shares of Sphere Entertainment from a "sell" rating to a "hold" rating in a research note on Tuesday, February 17th. Guggenheim lifted their price objective on shares of Sphere Entertainment from $136.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 13th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $135.00 price objective on shares of Sphere Entertainment in a research note on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $106.33.

Sphere Entertainment Price Performance

SPHR opened at $105.65 on Friday. The firm has a market capitalization of $3.75 billion, a PE ratio of -234.77 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. The business's 50-day moving average is $103.29 and its two-hundred day moving average is $82.05. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year high of $121.93.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The business had revenue of $394.28 million during the quarter, compared to analyst estimates of $377.60 million. During the same period in the prior year, the firm posted ($3.49) earnings per share. The company's quarterly revenue was up 27.9% on a year-over-year basis. Research analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

Sphere Entertainment Profile

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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