Symmetry Investments LP Acquires Shares of 20,000 Sphere Entertainment Co. (NYSE:SPHR)

Symmetry Investments LP bought a new position in Sphere Entertainment Co. (NYSE:SPHR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the company’s stock, valued at approximately $701,000.

A number of other large investors have also made changes to their positions in SPHR. Swiss National Bank grew its position in Sphere Entertainment by 1.6% during 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. Greenhaven Road Investment Management L.P. lifted its stake in Sphere Entertainment by 18.3% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 225,000 shares of the company’s stock worth $7,641,000 after acquiring an additional 34,789 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in Sphere Entertainment during the 1st quarter worth about $203,000. Seven Eight Capital LP grew its stake in Sphere Entertainment by 145.1% during the 4th quarter. Seven Eight Capital LP now owns 64,653 shares of the company’s stock valued at $2,196,000 after acquiring an additional 38,271 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Sphere Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,807,395 shares of the company’s stock valued at $137,787,000 after purchasing an additional 17,613 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SPHR shares. Macquarie boosted their price objective on shares of Sphere Entertainment from $38.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Morgan Stanley upped their price target on shares of Sphere Entertainment from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Benchmark restated a “sell” rating and issued a $40.00 target price on shares of Sphere Entertainment in a research note on Tuesday, September 3rd. Guggenheim raised their price target on Sphere Entertainment from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America lowered their price target on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $49.17.

Sphere Entertainment Stock Down 3.9 %

SPHR opened at $41.09 on Friday. The firm has a market cap of $1.45 billion, a P/E ratio of 3.77 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The business has a 50 day moving average price of $43.83 and a 200 day moving average price of $41.74. Sphere Entertainment Co. has a twelve month low of $27.02 and a twelve month high of $51.83.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($2.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.47) by $0.47. The business had revenue of $273.40 million during the quarter, compared to the consensus estimate of $271.28 million. Sphere Entertainment had a negative net margin of 19.54% and a negative return on equity of 9.02%. Sphere Entertainment’s quarterly revenue was up 111.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $15.43 EPS. Research analysts forecast that Sphere Entertainment Co. will post -6.9 EPS for the current year.

Sphere Entertainment 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.