Pinnbrook Capital Management LP Makes New Investment in Sphere Entertainment Co. $SPHR

Pinnbrook Capital Management LP purchased a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 49,021 shares of the company’s stock, valued at approximately $3,045,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of Sphere Entertainment in the 3rd quarter worth $30,000. ORG Partners LLC increased its position in Sphere Entertainment by 80.1% during the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock valued at $41,000 after buying an additional 294 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Sphere Entertainment by 190.0% in the third quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $72,000 after buying an additional 796 shares during the last quarter. Chesapeake Asset Management LLC purchased a new stake in Sphere Entertainment in the third quarter valued at about $75,000. Finally, Federated Hermes Inc. acquired a new stake in Sphere Entertainment in the third quarter worth about $79,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPHR shares. JPMorgan Chase & Co. boosted their price target 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 research report on Thursday, January 22nd. Guggenheim lifted their target price 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. New Street Research set a $110.00 target price on shares of Sphere Entertainment in a research report on Thursday, January 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $135.00 price target on shares of Sphere Entertainment in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell 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 $106.33.

Sphere Entertainment Stock Down 3.9%

Shares of SPHR stock opened at $105.65 on Friday. Sphere Entertainment Co. has a fifty-two week low of $23.89 and a fifty-two week high of $121.93. The firm has a market capitalization of $3.75 billion, a PE ratio of -234.77 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day simple moving average is $103.29 and its 200-day simple moving average is $82.05.

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

Sphere Entertainment 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.