SG Americas Securities LLC Has $8.30 Million Holdings in Sphere Entertainment Co. $SPHR

SG Americas Securities LLC grew its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 84.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,283 shares of the company’s stock after acquiring an additional 40,002 shares during the quarter. SG Americas Securities LLC’s holdings in Sphere Entertainment were worth $8,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SPHR. Ariel Investments LLC grew its position in Sphere Entertainment by 12.7% in the 2nd quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock worth $296,790,000 after purchasing an additional 802,098 shares during the last quarter. Systematic Financial Management LP raised its position in shares of Sphere Entertainment by 8.4% during the second quarter. Systematic Financial Management LP now owns 351,290 shares of the company’s stock valued at $14,684,000 after buying an additional 27,233 shares during the last quarter. Legato Capital Management LLC acquired a new position in shares of Sphere Entertainment during the third quarter valued at about $661,000. Citigroup Inc. lifted its stake in shares of Sphere Entertainment by 94.0% in the third quarter. Citigroup Inc. now owns 50,592 shares of the company’s stock valued at $3,143,000 after buying an additional 24,520 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Sphere Entertainment by 146.1% in the third quarter. New York State Common Retirement Fund now owns 20,784 shares of the company’s stock valued at $1,291,000 after buying an additional 12,338 shares during the period. Institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SPHR shares. Benchmark upgraded Sphere Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Guggenheim lifted their price objective on Sphere Entertainment from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Citizens Jmp assumed coverage on Sphere Entertainment in a research report on Monday. They set a “market outperform” rating and a $150.00 price objective on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $126.00 target price on shares of Sphere Entertainment in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, January 21st. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $109.69.

Sphere Entertainment Trading Down 0.4%

Shares of SPHR opened at $106.37 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.78 billion, a PE ratio of -236.38 and a beta of 1.61. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year high of $121.93. The stock has a 50 day simple moving average of $106.71 and a 200-day simple moving average of $87.31.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.35. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The firm had revenue of $394.28 million for the quarter, compared to analysts’ expectations of $377.60 million. During the same period in the prior year, the business posted ($3.49) earnings per share. The business’s revenue was up 27.9% compared to the same quarter last year. On average, sell-side analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

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.