Poehling Capital Management INC. Cuts Stake in Sphere Entertainment Co. $SPHR

Poehling Capital Management INC. cut its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,900 shares of the company’s stock after selling 6,131 shares during the period. Poehling Capital Management INC.’s holdings in Sphere Entertainment were worth $2,219,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its stake in Sphere Entertainment by 19.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Sphere Entertainment by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock valued at $3,448,000 after buying an additional 145 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after acquiring an additional 156 shares in the last quarter. Putney Financial Group LLC boosted its holdings in Sphere Entertainment by 4.2% in the fourth quarter. Putney Financial Group LLC now owns 4,475 shares of the company’s stock worth $425,000 after acquiring an additional 180 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of Sphere Entertainment by 35.4% during the fourth quarter. ORG Partners LLC now owns 895 shares of the company’s stock worth $85,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPHR. JPMorgan Chase & Co. upped their price objective on shares of Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group lifted their target price on shares of Sphere Entertainment from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Benchmark raised their price target on shares of Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings upgraded shares of Sphere Entertainment from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Seaport Research Partners reissued a “buy” rating and set a $173.00 price objective on shares of Sphere Entertainment in a report on Wednesday, June 17th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.15.

Sphere Entertainment Stock Performance

SPHR opened at $169.69 on Friday. 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 Co. has a 12-month low of $37.89 and a 12-month high of $171.47. The firm has a 50 day moving average of $140.49 and a two-hundred day moving average of $117.18. The firm has a market capitalization of $6.02 billion, a PE ratio of 95.33 and a beta of 1.64.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The firm had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter in the prior year, the business earned ($2.27) earnings per share. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. On average, analysts anticipate that Sphere Entertainment Co. will post -2.44 EPS for the current 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.