O Keefe Stevens Advisory Inc. Has $8.28 Million Position in Sphere Entertainment Co. (NYSE:SPHR)

O Keefe Stevens Advisory Inc. grew its position in Sphere Entertainment Co. (NYSE:SPHR) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,501 shares of the company’s stock after purchasing an additional 16,548 shares during the period. Sphere Entertainment comprises approximately 2.5% of O Keefe Stevens Advisory Inc.’s holdings, making the stock its 16th biggest holding. O Keefe Stevens Advisory Inc.’s holdings in Sphere Entertainment were worth $8,284,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SPHR. Quent Capital LLC boosted its position in Sphere Entertainment by 15.5% in the third quarter. Quent Capital LLC now owns 4,658 shares of the company’s stock valued at $206,000 after buying an additional 624 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sphere Entertainment during the third quarter worth approximately $252,000. Sanctuary Advisors LLC bought a new position in shares of Sphere Entertainment in the second quarter valued at approximately $2,332,000. Ariadne Wealth Management LP acquired a new position in shares of Sphere Entertainment in the 2nd quarter worth approximately $993,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Sphere Entertainment during the 2nd quarter worth approximately $344,000. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 2.8 %

Sphere Entertainment stock opened at $43.80 on Wednesday. Sphere Entertainment Co. has a fifty-two week low of $27.02 and a fifty-two week high of $51.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 4.02 and a beta of 1.41. The company’s 50 day simple moving average is $43.82 and its 200 day simple moving average is $41.33.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($2.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.47) by $0.47. The company had revenue of $273.40 million during the quarter, compared to analyst estimates of $271.28 million. Sphere Entertainment had a negative net margin of 19.54% and a negative return on equity of 9.02%. The firm’s revenue was up 111.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $15.43 EPS. As a group, sell-side analysts anticipate that Sphere Entertainment Co. will post -9.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPHR. Benchmark reissued a “sell” rating and issued a $40.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $37.00 to $57.00 in a research report on Friday, August 16th. Guggenheim raised their price objective on shares of Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America dropped their target price on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Tuesday, September 17th. Finally, Wolfe Research raised shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Hold” and a consensus price target of $50.71.

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.