Dimensional Fund Advisors LP lessened its stake in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 897,586 shares of the company's stock after selling 20,318 shares during the period. Dimensional Fund Advisors LP owned approximately 2.53% of Sphere Entertainment worth $105,351,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in shares of Sphere Entertainment during the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd increased its position in shares of Sphere Entertainment by 53.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company's stock valued at $43,000 after acquiring an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Sphere Entertainment in the 4th quarter worth $48,000. Flagship Harbor Advisors LLC acquired a new stake in Sphere Entertainment during the 4th quarter worth about $52,000. Finally, Parallel Advisors LLC grew its stake in Sphere Entertainment by 275.0% during the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company's stock valued at $55,000 after purchasing an additional 341 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on SPHR shares. Citizens Jmp raised their price objective on Sphere Entertainment from $175.00 to $200.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 17th. Bank of America raised their price target on shares of Sphere Entertainment from $110.00 to $132.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Weiss Ratings raised shares of Sphere Entertainment from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. New Street Research set a $188.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, July 14th. Finally, Guggenheim boosted their target price on shares of Sphere Entertainment from $175.00 to $188.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.08.
Get Our Latest Stock Report on Sphere Entertainment
Sphere Entertainment Stock Up 0.9%
Shares of SPHR stock opened at $141.28 on Wednesday. Sphere Entertainment Co. has a twelve month low of $37.89 and a twelve month high of $174.60. The stock has a market cap of $5.02 billion, a P/E ratio of 79.37 and a beta of 1.61. The stock has a 50 day moving average of $146.97 and a 200 day moving average of $126.24. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.
Sphere Entertainment (NYSE:SPHR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.27. The business had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business's quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.27) EPS. As a group, sell-side analysts expect that Sphere Entertainment Co. will post -2.5 EPS for the current year.
About Sphere Entertainment
(
Free Report)
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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