Nkcfo LLC Invests $497,000 in Sphere Entertainment Co. $SPHR

Nkcfo LLC acquired a new stake in shares of Sphere Entertainment Co. (NYSE:SPHR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,000 shares of the company’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPHR. Quent Capital LLC bought a new position in Sphere Entertainment in the third quarter valued at $30,000. CWM LLC boosted its holdings in shares of Sphere Entertainment by 915.3% in the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock worth $31,000 after purchasing an additional 659 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Sphere Entertainment by 80.1% in the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after purchasing an additional 294 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Sphere Entertainment by 190.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $72,000 after purchasing an additional 796 shares during the last quarter. Finally, Chesapeake Asset Management LLC purchased a new position in shares of Sphere Entertainment during the 3rd quarter valued at about $75,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Sphere Entertainment Price Performance

SPHR stock opened at $111.08 on Tuesday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -246.84 and a beta of 1.68. The firm’s 50-day moving average price is $97.49 and its two-hundred day moving average price is $75.42. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $118.14.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $1.35. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The company had revenue of $394.28 million during the quarter, compared to analyst estimates of $377.60 million. During the same period in the prior year, the business posted ($3.49) earnings per share. Sphere Entertainment’s revenue for the quarter was up 27.9% on a year-over-year basis. As a group, equities analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPHR shares. JPMorgan Chase & Co. upped their target price on Sphere Entertainment from $91.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. National Bank Financial set a $136.00 price objective on shares of Sphere Entertainment in a report on Thursday, January 22nd. Wolfe Research reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Sphere Entertainment in a research note on Monday, December 15th. BTIG Research increased their target price on shares of Sphere Entertainment from $110.00 to $127.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $126.00 price target on shares of Sphere Entertainment in a research note on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sphere Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $101.23.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.