Sphere Entertainment Co. $SPHR is Landscape Capital Management L.L.C.’s 7th Largest Position

Landscape Capital Management L.L.C. trimmed its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 30.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,100 shares of the company’s stock after selling 74,076 shares during the period. Sphere Entertainment comprises approximately 1.1% of Landscape Capital Management L.L.C.’s holdings, making the stock its 7th biggest holding. Landscape Capital Management L.L.C. owned 0.48% of Sphere Entertainment worth $16,078,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPHR. Goldman Sachs Group Inc. increased its stake in shares of Sphere Entertainment by 132.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after purchasing an additional 357,794 shares in the last quarter. Mane Global Capital Management LP purchased a new position in shares of Sphere Entertainment during the 3rd quarter worth approximately $22,143,000. Woodline Partners LP acquired a new stake in shares of Sphere Entertainment during the third quarter valued at $20,503,000. Islander Capital Partners L.P. acquired a new stake in shares of Sphere Entertainment during the fourth quarter valued at $20,920,000. Finally, Portolan Capital Management LLC acquired a new stake in shares of Sphere Entertainment during the third quarter valued at $12,947,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Stock Up 1.6%

Shares of NYSE:SPHR opened at $153.22 on Friday. The stock’s 50-day moving average price is $134.69 and its two-hundred day moving average price is $111.91. 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 Co. has a 12-month low of $37.89 and a 12-month high of $154.57. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 86.08 and a beta of 1.64.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The firm had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. During the same period last year, the company earned ($2.27) EPS. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. On average, research analysts forecast that Sphere Entertainment Co. will post -2.44 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Benchmark raised Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and set a $190.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, May 19th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.92.

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.