Vanguard Group Inc. raised its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,789,782 shares of the company's stock after buying an additional 100,311 shares during the quarter. Vanguard Group Inc. owned 7.94% of Sphere Entertainment worth $94,741,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lido Advisors LLC acquired a new position in Sphere Entertainment during the third quarter valued at $357,000. Tudor Investment Corp Et Al acquired a new stake in shares of Sphere Entertainment during the third quarter worth approximately $3,331,000. Greenhaven Road Investment Management L.P. purchased a new position in Sphere Entertainment during the third quarter valued at approximately $7,068,000. American Century Companies Inc. purchased a new position in Sphere Entertainment during the third quarter valued at approximately $7,093,000. Finally, Citigroup Inc. acquired a new position in Sphere Entertainment in the 3rd quarter valued at approximately $59,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.
Sphere Entertainment Stock Up 2.0 %
Sphere Entertainment stock traded up $0.76 during mid-day trading on Monday, hitting $38.19. 211,292 shares of the company's stock were exchanged, compared to its average volume of 709,319. Sphere Entertainment Co. has a 1-year low of $27.02 and a 1-year high of $51.83. The stock has a 50 day moving average of $36.86 and a two-hundred day moving average of $39.04. 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 stock has a market cap of $1.35 billion, a P/E ratio of 3.44 and a beta of 1.41.
Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $324.65 million. During the same period in the previous year, the business posted ($1.08) earnings per share. The firm's revenue was up 98.3% on a year-over-year basis. As a group, analysts anticipate that Sphere Entertainment Co. will post -4.83 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SPHR has been the topic of several research analyst reports. Seaport Res Ptn cut shares of Sphere Entertainment from a "buy" rating to a "neutral" rating in a report on Monday, April 8th. Guggenheim dropped their target price on Sphere Entertainment from $48.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, June 27th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Sphere Entertainment currently has a consensus rating of "Hold" and a consensus target price of $36.20.
View Our Latest Analysis on Sphere Entertainment
Sphere Entertainment Company Profile
(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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