Jefferies Financial Group Inc. grew its holdings in Sphere Entertainment Co. (NYSE:SPHR – Free Report) by 1,422.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,640 shares of the company’s stock after purchasing an additional 24,890 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Sphere Entertainment were worth $3,581,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its holdings in shares of Sphere Entertainment by 114.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 871,484 shares of the company’s stock valued at $117,162,000 after purchasing an additional 464,609 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Sphere Entertainment by 149.9% in the 1st quarter. Renaissance Technologies LLC now owns 559,935 shares of the company’s stock valued at $65,736,000 after purchasing an additional 335,900 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Sphere Entertainment by 24.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 523,934 shares of the company’s stock worth $61,510,000 after purchasing an additional 104,192 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in Sphere Entertainment by 118.9% in the third quarter. Artemis Investment Management LLP now owns 447,982 shares of the company’s stock worth $60,227,000 after purchasing an additional 243,376 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Sphere Entertainment by 75.4% during the first quarter. Bank of New York Mellon Corp now owns 146,782 shares of the company’s stock worth $17,232,000 after buying an additional 63,080 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.
Sphere Entertainment Price Performance
NYSE:SPHR opened at $123.59 on Friday. Sphere Entertainment Co. has a 1 year low of $73.03 and a 1 year high of $181.63. The firm’s fifty day simple moving average is $123.27 and its 200 day simple moving average is $130.98. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36.
Sphere Entertainment (NYSE:SPHR – Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($4.84) EPS for the quarter, missing the consensus estimate of ($1.66) by ($3.18). The firm had revenue of $274.26 million during the quarter, compared to the consensus estimate of $269.71 million. Sphere Entertainment had a negative return on equity of 0.78% and a negative net margin of 11.60%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned ($2.80) EPS. As a group, sell-side analysts expect that Sphere Entertainment Co. will post -5.43 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Craig Hallum lowered Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 target price on the stock. in a report on Monday, October 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $150.00 price target on shares of Sphere Entertainment in a research note on Friday, November 6th. Citigroup reissued a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday, October 6th. Morgan Stanley cut their price objective on Sphere Entertainment from $170.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 27th. Finally, Guggenheim reduced their target price on Sphere Entertainment from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, November 6th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.60.
Get Our Latest Research Report on Sphere Entertainment
Sphere Entertainment Company Profile
Sphere Entertainment Co. is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications. MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.
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