Sphere Entertainment Co. (NYSE:SPHR) Shares Bought by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,728 shares of the company’s stock after acquiring an additional 4,157 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.16% of Sphere Entertainment worth $2,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SPHR. Blue Trust Inc. acquired a new position in shares of Sphere Entertainment during the second quarter worth $27,000. Summit Securities Group LLC purchased a new position in Sphere Entertainment in the 2nd quarter valued at about $54,000. 1832 Asset Management L.P. acquired a new stake in shares of Sphere Entertainment during the first quarter valued at about $85,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock worth $111,000 after acquiring an additional 810 shares during the last quarter. Finally, Quent Capital LLC increased its position in shares of Sphere Entertainment by 51.8% during the second quarter. Quent Capital LLC now owns 4,034 shares of the company’s stock worth $141,000 after acquiring an additional 1,376 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPHR. Wolfe Research upgraded shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $57.00 in a research report on Friday, August 16th. Bank of America lowered their price objective on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Macquarie reduced their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, Benchmark reiterated a “sell” rating and issued a $40.00 price target on shares of Sphere Entertainment in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.43.

Sphere Entertainment Stock Up 1.3 %

Shares of NYSE:SPHR opened at $40.80 on Monday. 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 current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $43.35 and its 200 day moving average price is $41.43.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.37. The firm had revenue of $227.90 million during the quarter, compared to analyst estimates of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. Sphere Entertainment’s revenue was up 93.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, research analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

Sphere Entertainment Company 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.