MYDA Advisors LLC Sells 30,000 Shares of Sphere Entertainment Co. $SPHR

MYDA Advisors LLC trimmed its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 46.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,000 shares of the company’s stock after selling 30,000 shares during the quarter. MYDA Advisors LLC’s holdings in Sphere Entertainment were worth $3,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Sphere Entertainment during the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after purchasing an additional 156 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Sphere Entertainment during the fourth quarter worth $48,000. Flagship Harbor Advisors LLC bought a new position in shares of Sphere Entertainment during the fourth quarter worth $52,000. Finally, Larson Financial Group LLC bought a new position in shares of Sphere Entertainment during the fourth quarter worth $68,000. 92.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SPHR shares. Weiss Ratings raised shares of Sphere Entertainment from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Susquehanna lifted their price target on shares of Sphere Entertainment from $133.00 to $159.00 and gave the stock a “positive” rating in a research report on Wednesday, May 6th. Guggenheim lifted their price target on shares of Sphere Entertainment from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Citigroup reissued an “outperform” rating on shares of Sphere Entertainment in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sphere Entertainment from $143.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sphere Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.92.

Sphere Entertainment Trading Down 0.0%

SPHR opened at $153.22 on Monday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 86.08 and a beta of 1.65. Sphere Entertainment Co. has a 12 month low of $37.89 and a 12 month high of $154.57. The firm’s fifty day simple moving average is $134.69 and its 200 day simple moving average is $112.15. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.27. The business had revenue of $386.41 million for the quarter, compared to analysts’ expectations of $313.41 million. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The firm’s revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.27) EPS. As a group, research analysts anticipate that Sphere Entertainment Co. will post -2.44 EPS for the current fiscal year.

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.