Legato Capital Management LLC Has $1.79 Million Stock Holdings in Sphere Entertainment Co. $SPHR

Legato Capital Management LLC grew its position in Sphere Entertainment Co. (NYSE:SPHR) by 76.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,774 shares of the company’s stock after purchasing an additional 8,141 shares during the period. Legato Capital Management LLC owned about 0.05% of Sphere Entertainment worth $1,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnbrook Capital Management LP raised its holdings in shares of Sphere Entertainment by 1.5% in the fourth quarter. Pinnbrook Capital Management LP now owns 49,759 shares of the company’s stock valued at $4,731,000 after purchasing an additional 738 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Sphere Entertainment in the fourth quarter valued at about $68,000. Handelsbanken Fonder AB raised its holdings in shares of Sphere Entertainment by 5.3% in the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the company’s stock valued at $570,000 after purchasing an additional 300 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Sphere Entertainment by 6.6% in the fourth quarter. ProShare Advisors LLC now owns 5,072 shares of the company’s stock valued at $482,000 after purchasing an additional 316 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Sphere Entertainment in the fourth quarter valued at about $250,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

SPHR opened at $129.16 on Friday. The firm has a market cap of $4.59 billion, a P/E ratio of 72.56 and a beta of 1.69. The firm has a 50-day moving average of $126.01 and a 200 day moving average of $105.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.22. Sphere Entertainment Co. has a fifty-two week low of $36.32 and a fifty-two week high of $149.00.

Sphere Entertainment (NYSE:SPHR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. The firm had revenue of $386.41 million during the quarter, compared to analyst estimates of $313.41 million. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The company’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter last year, the business earned ($2.27) earnings per share. On average, research analysts expect that Sphere Entertainment Co. will post -2.48 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America increased their target price on shares of Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Citigroup restated an “outperform” rating on shares of Sphere Entertainment in a research report on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating and set a $170.00 price target on shares of Sphere Entertainment in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their price target on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Finally, Benchmark upgraded shares of Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.92.

Sphere Entertainment Profile

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.