Campbell & CO Investment Adviser LLC Buys Shares of 31,876 Sphere Entertainment Co. $SPHR

Campbell & CO Investment Adviser LLC bought a new position in Sphere Entertainment Co. (NYSE:SPHR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 31,876 shares of the company’s stock, valued at approximately $1,332,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ariel Investments LLC raised its stake in Sphere Entertainment by 9.6% during the 1st quarter. Ariel Investments LLC now owns 6,298,139 shares of the company’s stock worth $206,075,000 after buying an additional 553,947 shares during the period. Goldman Sachs Group Inc. grew its stake in Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after acquiring an additional 357,794 shares during the period. Northern Trust Corp increased its holdings in shares of Sphere Entertainment by 41.2% in the first quarter. Northern Trust Corp now owns 523,839 shares of the company’s stock worth $17,140,000 after acquiring an additional 152,893 shares in the last quarter. Deutsche Bank AG raised its position in shares of Sphere Entertainment by 292.8% during the first quarter. Deutsche Bank AG now owns 448,729 shares of the company’s stock worth $14,682,000 after purchasing an additional 334,500 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of Sphere Entertainment by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 353,515 shares of the company’s stock worth $11,567,000 after purchasing an additional 3,717 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SPHR shares. Morgan Stanley increased their target price on Sphere Entertainment from $40.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, November 3rd. BTIG Research initiated coverage on shares of Sphere Entertainment in a research report on Monday, October 6th. They set a “neutral” rating for the company. Guggenheim boosted their price objective on shares of Sphere Entertainment from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Benchmark upped their target price on shares of Sphere Entertainment from $35.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group lifted their price target on Sphere Entertainment from $69.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sphere Entertainment presently has an average rating of “Hold” and an average target price of $63.88.

Sphere Entertainment Trading Up 1.2%

Sphere Entertainment stock opened at $77.88 on Wednesday. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -15.06 and a beta of 1.79. The firm has a 50-day moving average of $62.28 and a 200-day moving average of $47.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.96 and a quick ratio of 0.96. Sphere Entertainment Co. has a one year low of $23.89 and a one year high of $79.51.

Sphere Entertainment (NYSE:SPHR) last released its earnings results on Tuesday, November 4th. The company reported ($1.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.62) by $0.25. Sphere Entertainment had a negative return on equity of 17.20% and a negative net margin of 13.87%.The business had revenue of $262.51 million for the quarter, compared to analyst estimates of $259.34 million. On average, equities analysts expect that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal 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.