Sphere Entertainment Co. $SPHR Stock Position Increased by Empowered Funds LLC

Empowered Funds LLC boosted its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,324 shares of the company’s stock after buying an additional 809 shares during the quarter. Empowered Funds LLC owned 0.52% of Sphere Entertainment worth $7,705,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Poehling Capital Management INC. increased its stake in Sphere Entertainment by 51.1% in the 2nd quarter. Poehling Capital Management INC. now owns 53,822 shares of the company’s stock worth $2,250,000 after purchasing an additional 18,202 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Sphere Entertainment by 12.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,475 shares of the company’s stock worth $271,000 after purchasing an additional 712 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sphere Entertainment by 1.5% in the second quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock valued at $27,175,000 after purchasing an additional 9,746 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Sphere Entertainment in the second quarter worth $238,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Sphere Entertainment during the second quarter valued at $1,332,000. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Trading Up 0.9%

Shares of SPHR stock opened at $77.85 on Thursday. The business’s 50 day moving average is $65.44 and its two-hundred day moving average is $49.58. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36. Sphere Entertainment Co. has a 12 month low of $23.89 and a 12 month high of $81.47. The company has a market cap of $2.75 billion, a PE ratio of -15.06 and a beta of 1.79.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data 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. The business had revenue of $262.51 million during the quarter, compared to the consensus estimate of $259.34 million. Sphere Entertainment had a negative net margin of 13.87% and a negative return on equity of 17.20%. Equities analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Analyst Ratings Changes

SPHR has been the subject of a number of research reports. Guggenheim raised their price objective on Sphere Entertainment from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Sphere Entertainment from $40.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on Sphere Entertainment from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Benchmark raised their price target on Sphere Entertainment from $35.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.88.

Sphere Entertainment Company 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.