Sphere Entertainment Co. $SPHR Shares Sold by State of Wyoming

State of Wyoming reduced its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 81.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,236 shares of the company’s stock after selling 5,382 shares during the quarter. State of Wyoming’s holdings in Sphere Entertainment were worth $166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SPHR. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Sphere Entertainment by 29.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,300 shares of the company’s stock valued at $1,654,000 after acquiring an additional 2,800 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Sphere Entertainment by 64.7% during the third quarter. Oppenheimer & Co. Inc. now owns 5,402 shares of the company’s stock worth $726,000 after purchasing an additional 2,122 shares during the period. Signaturefd LLC raised its position in shares of Sphere Entertainment by 204.9% during the third quarter. Signaturefd LLC now owns 186 shares of the company’s stock worth $25,000 after purchasing an additional 125 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Sphere Entertainment in the 3rd quarter worth $201,000. Finally, Kercheville Advisors LLC bought a new position in shares of Sphere Entertainment in the 3rd quarter worth $336,000. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 0.0%

SPHR stock opened at $120.08 on Monday. Sphere Entertainment Co. has a twelve month low of $72.08 and a twelve month high of $181.63. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $124.43 and its 200-day moving average is $130.43. The firm has a market capitalization of $4.31 billion, a PE ratio of -25.44 and a beta of 1.72.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.66) by ($3.18). Sphere Entertainment had a negative net margin of 11.60% and a negative return on equity of 0.78%. The company had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $269.71 million. During the same period in the previous year, the firm earned ($2.80) EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Sphere Entertainment Co. will post -2.70 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPHR has been the subject of several research reports. Guggenheim reduced their price target on shares of Sphere Entertainment from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley lowered their price objective on shares of Sphere Entertainment from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, October 27th. Susquehanna reaffirmed a “positive” rating and issued a $156.00 price objective on shares of Sphere Entertainment in a research note on Friday. Wells Fargo & Company set a $200.00 price objective on shares of Sphere Entertainment in a report on Tuesday, October 6th. Finally, BTIG Research reduced their price objective on shares of Sphere Entertainment from $160.00 to $145.00 and set a “buy” rating for the company in a report on Friday. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.87.

Key Sphere Entertainment News

Here are the key news stories impacting Sphere Entertainment this week:

• Positive Sentiment: Strong ticket sales at Sphere: “The Wizard of Oz” exceeded $500 million in ticket sales, with more than four million tickets sold since its August debut. The company also introduced expanded 4D effects, supporting the potential for continued audience demand. Sphere Entertainment Q3 results
• Positive Sentiment: Revenue topped expectations: Q3 revenue was $274.26 million, above analyst estimates of about $269.7 million and up 4.5% year over year. Zacks also reported a per-share loss of $0.98, narrower than its consensus estimate of a $1.79 loss. Zacks Q3 earnings report
• Positive Sentiment: Guggenheim remains bullish: The firm cut its price target from $180 to $175 but maintained a Buy rating, implying substantial upside from the then-current price. The target reduction tempers, but does not reverse, the favorable stance. Guggenheim price-target update
• Negative Sentiment: Reported loss was a concern: Other earnings coverage cited a loss of $4.84 per share, far worse than the $1.66 consensus estimate. This contrasts with the narrower loss cited by Zacks, suggesting results varied across reported earnings measures and may have weighed on sentiment. Coverage of Sphere’s wider Q3 loss

Sphere Entertainment Company Profile

Sphere Entertainment Co is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications.

MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.

Sphere Entertainment was formed in 2023 through the separation of businesses from Madison Square Garden Entertainment Corp.