Quent Capital LLC Has $996,000 Stock Position in Sphere Entertainment Co. $SPHR

Key Points

• Quent Capital LLC boosted its stake in Sphere Entertainment (NYSE:SPHR) by 2,083.3% in Q4, adding 10,000 shares to hold 10,480 shares worth about $996,000 at quarter-end.
• Sphere beat expectations with Q results—EPS $1.23 vs consensus ($0.12) and revenue of $394.28M (+27.9% YoY)—and the stock trades around $131.37, near its one-year high of $137.29.
• Wall Street is broadly positive with a consensus rating of “Moderate Buy” and an average target of $114.38 (several firms have raised targets up to $150), while institutional investors own roughly 92% of the stock.

Quent Capital LLC increased its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 2,083.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,480 shares of the company's stock after acquiring an additional 10,000 shares during the period. Quent Capital LLC's holdings in Sphere Entertainment were worth $996,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPHR. ORG Partners LLC lifted its stake in shares of Sphere Entertainment by 80.1% during 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 during the period. Flagship Harbor Advisors LLC acquired a new stake in Sphere Entertainment in the fourth quarter worth about $52,000. NewEdge Advisors LLC raised its holdings in Sphere Entertainment by 576.6% during the 3rd quarter. NewEdge Advisors LLC now owns 927 shares of the company's stock worth $58,000 after purchasing an additional 790 shares during the last quarter. Quarry LP raised its holdings in Sphere Entertainment by 1,614.0% during the 3rd quarter. Quarry LP now owns 977 shares of the company's stock worth $61,000 after purchasing an additional 920 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Sphere Entertainment by 190.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $72,000 after purchasing an additional 796 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research raised their price objective on shares of Sphere Entertainment from $110.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, February 13th. New Street Research set a $110.00 target price on shares of Sphere Entertainment in a research report on Thursday, January 15th. Bank of America increased their price target on Sphere Entertainment from $110.00 to $132.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. National Bank Financial set a $136.00 price target on Sphere Entertainment in a research report on Thursday, January 22nd. Finally, Citizens Jmp began coverage on Sphere Entertainment in a research note on Monday, March 30th. They set an "outperform" rating and a $150.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.38.

Sphere Entertainment Trading Up 2.7%

NYSE SPHR opened at $131.37 on Friday. Sphere Entertainment Co. has a one year low of $26.54 and a one year high of $137.29. 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 firm has a market cap of $4.66 billion, a P/E ratio of -291.94 and a beta of 1.67. The stock's 50-day moving average is $118.65 and its 200-day moving average is $96.14.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $377.60 million. During the same period in the previous year, the firm posted ($3.49) EPS. The firm's revenue was up 27.9% compared to the same quarter last year. Sell-side analysts anticipate that Sphere Entertainment Co. will post -2.51 earnings per share for the current fiscal 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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