Sphere Entertainment Co. $SPHR Shares Bought by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. grew its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 32.9% during the 3rd quarter, Holdings Channel reports. The firm owned 243,176 shares of the company’s stock after buying an additional 60,161 shares during the period. Sphere Entertainment comprises about 1.0% of Landscape Capital Management L.L.C.’s investment portfolio, making the stock its 9th biggest position. Landscape Capital Management L.L.C.’s holdings in Sphere Entertainment were worth $15,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in Sphere Entertainment during the third quarter worth approximately $1,594,000. Invesco Ltd. raised its stake in Sphere Entertainment by 45.5% in the 3rd quarter. Invesco Ltd. now owns 85,010 shares of the company’s stock valued at $5,281,000 after acquiring an additional 26,596 shares during the period. Intrepid Financial Planning Group LLC acquired a new stake in Sphere Entertainment during the 3rd quarter valued at $427,000. UBS Group AG boosted its position in Sphere Entertainment by 3.9% during the third quarter. UBS Group AG now owns 230,143 shares of the company’s stock worth $14,296,000 after purchasing an additional 8,591 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Sphere Entertainment by 149.1% in the third quarter. Franklin Resources Inc. now owns 17,869 shares of the company’s stock valued at $1,110,000 after purchasing an additional 10,697 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Sphere Entertainment Price Performance

Sphere Entertainment stock traded up $0.28 during trading hours on Friday, reaching $110.17. 70,633 shares of the stock were exchanged, compared to its average volume of 777,612. 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 twelve month low of $23.89 and a twelve month high of $121.93. The company has a market cap of $3.91 billion, a P/E ratio of -244.47 and a beta of 1.61. The stock has a 50 day moving average of $103.06 and a two-hundred day moving average of $81.63.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly 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. The company had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($3.49) EPS. Equities analysts expect that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $135.00 target price on shares of Sphere Entertainment in a report on Friday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Guggenheim lifted their price objective on shares of Sphere Entertainment from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Benchmark upgraded shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Bank of America raised their target price on shares of Sphere Entertainment from $48.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

About Sphere Entertainment

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.