Sphere Entertainment (NYSE:SPHR) Trading 5.8% Higher

Sphere Entertainment Co. (NYSE:SPHR) shares traded up 5.8% during trading on Tuesday . The company traded as high as $34.68 and last traded at $34.37. 452,056 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 706,653 shares. The stock had previously closed at $32.49.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn cut Sphere Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.60.

Sphere Entertainment Trading Down 0.8 %

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.22 billion, a PE ratio of 3.17 and a beta of 1.43. The stock has a 50 day moving average price of $37.51 and a 200 day moving average price of $38.87.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Friday, May 10th. The company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.98). Sphere Entertainment had a net margin of 43.36% and a return on equity of 8.11%. The company had revenue of $321.33 million for the quarter, compared to the consensus estimate of $324.65 million. During the same period last year, the business earned ($1.08) EPS. The firm’s quarterly revenue was up 98.3% on a year-over-year basis. Sell-side analysts predict that Sphere Entertainment Co. will post -4.83 EPS for the current fiscal year.

Institutional Trading of Sphere Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in shares of Sphere Entertainment by 2.2% in the 4th quarter. Victory Capital Management Inc. now owns 20,851 shares of the company’s stock worth $708,000 after purchasing an additional 457 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Sphere Entertainment by 0.5% in the 1st quarter. North Star Investment Management Corp. now owns 125,620 shares of the company’s stock worth $6,165,000 after purchasing an additional 620 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of Sphere Entertainment in the 3rd quarter worth $25,000. Swiss National Bank increased its holdings in shares of Sphere Entertainment by 1.6% in the 1st quarter. Swiss National Bank now owns 50,159 shares of the company’s stock worth $2,462,000 after purchasing an additional 800 shares in the last quarter. Finally, Allegheny Financial Group LTD increased its holdings in shares of Sphere Entertainment by 16.2% in the 4th quarter. Allegheny Financial Group LTD now owns 6,273 shares of the company’s stock worth $213,000 after purchasing an additional 875 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

About Sphere Entertainment

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.