Capitolis Liquid Global Markets LLC Makes New $9.37 Million Investment in Sphere Entertainment Co. $SPHR

Capitolis Liquid Global Markets LLC purchased a new stake in Sphere Entertainment Co. (NYSE:SPHR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 150,800 shares of the company’s stock, valued at approximately $9,368,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of Sphere Entertainment by 5.5% in the first quarter. Royal Bank of Canada now owns 150,614 shares of the company’s stock worth $4,928,000 after acquiring an additional 7,891 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sphere Entertainment by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock worth $532,000 after purchasing an additional 831 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after purchasing an additional 357,794 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Sphere Entertainment by 67.0% during the second quarter. Envestnet Asset Management Inc. now owns 69,387 shares of the company’s stock worth $2,900,000 after purchasing an additional 27,838 shares during the period. Finally, ProShare Advisors LLC acquired a new position in shares of Sphere Entertainment in the 2nd quarter valued at $238,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Sphere Entertainment stock opened at $105.65 on Monday. The firm has a fifty day moving average of $103.29 and a 200-day moving average of $82.59. Sphere Entertainment Co. has a 52-week low of $23.89 and a 52-week high of $121.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.75 billion, a P/E ratio of -234.77 and a beta of 1.61.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $135.00 price objective on shares of Sphere Entertainment in a research note on Friday, February 13th. BTIG Research lifted their target price on Sphere Entertainment from $110.00 to $127.00 and gave the company a “buy” rating in a report on Friday, February 13th. Benchmark raised Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. upped 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sphere Entertainment in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sphere Entertainment currently has an average rating of “Moderate Buy” and an average price target of $106.33.

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.