Sphere Entertainment Co. (NYSE:SPHR) Shares Acquired by Poehling Capital Management INC.

Poehling Capital Management INC. lifted its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 104.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,839 shares of the company’s stock after acquiring an additional 18,280 shares during the quarter. Poehling Capital Management INC. owned about 0.10% of Sphere Entertainment worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SPHR. Sterling Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 760 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Sphere Entertainment during the 4th quarter valued at $40,000. Tower Research Capital LLC TRC lifted its holdings in shares of Sphere Entertainment by 108.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock valued at $53,000 after acquiring an additional 681 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after acquiring an additional 912 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Sphere Entertainment during the 4th quarter worth $202,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

SPHR opened at $36.31 on Thursday. The company has a 50-day moving average of $30.61 and a 200-day moving average of $37.66. The company has a market capitalization of $1.30 billion, a P/E ratio of -3.46 and a beta of 1.51. 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 quick ratio of 0.56 and a current ratio of 0.56.

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

Insider Activity at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $33.80, for a total transaction of $1,872,013.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 25.08% of the company’s stock.

Analysts Set New Price Targets

SPHR has been the topic of several analyst reports. Guggenheim lifted their price target on shares of Sphere Entertainment from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Susquehanna initiated coverage on shares of Sphere Entertainment in a research note on Monday, April 28th. They set a “positive” rating and a $37.00 price target on the stock. Macquarie dropped their price target on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price target on shares of Sphere Entertainment from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group set a $36.00 price target on shares of Sphere Entertainment and gave the stock a “buy” rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Sphere Entertainment has an average rating of “Hold” and a consensus price target of $45.78.

About Sphere Entertainment

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.