Investors Research Corp Purchases New Stake in Sphere Entertainment Co. (NYSE:SPHR)

Investors Research Corp purchased a new stake in shares of Sphere Entertainment Co. (NYSE:SPHRFree Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,150 shares of the company’s stock, valued at approximately $80,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Orion Portfolio Solutions LLC acquired a new stake in shares of Sphere Entertainment during the 3rd quarter valued at approximately $452,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sphere Entertainment during the 3rd quarter valued at approximately $424,000. Strs Ohio acquired a new stake in shares of Sphere Entertainment during the 3rd quarter valued at approximately $709,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Sphere Entertainment during the 3rd quarter valued at approximately $303,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Sphere Entertainment in the third quarter worth $567,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPHR. Wolfe Research began coverage on Sphere Entertainment in a research report on Wednesday. They issued a “peer perform” rating on the stock. Guggenheim raised Sphere Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $38.00 to $40.00 in a research report on Wednesday, December 6th. Seaport Res Ptn raised Sphere Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, December 7th. Morgan Stanley increased their target price on Sphere Entertainment from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. Finally, JPMorgan Chase & Co. increased their target price on Sphere Entertainment from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Sphere Entertainment has a consensus rating of “Hold” and an average target price of $32.75.

Get Our Latest Report on SPHR

Sphere Entertainment Trading Down 0.4 %

NYSE:SPHR opened at $30.33 on Thursday. Sphere Entertainment Co. has a 1 year low of $20.56 and a 1 year high of $43.93. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 1.74 and a beta of 1.32. The business has a fifty day moving average of $33.63 and a 200-day moving average of $35.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05.

Sphere Entertainment (NYSE:SPHRGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.39) by $4.29. Sphere Entertainment had a return on equity of 20.18% and a net margin of 49.01%. The company had revenue of $118.01 million during the quarter, compared to analysts’ expectations of $117.30 million. Equities analysts predict that Sphere Entertainment Co. will post -0.79 earnings per share for the current year.

About Sphere Entertainment

(Free Report)

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.

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Institutional Ownership by Quarter for Sphere Entertainment (NYSE:SPHR)

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