O Keefe Stevens Advisory Inc. Has $15.94 Million Stock Position in Sphere Entertainment Co. $SPHR

O Keefe Stevens Advisory Inc. decreased its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 18.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 167,623 shares of the company’s stock after selling 39,071 shares during the period. Sphere Entertainment makes up 4.1% of O Keefe Stevens Advisory Inc.’s portfolio, making the stock its 8th largest holding. O Keefe Stevens Advisory Inc.’s holdings in Sphere Entertainment were worth $15,938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quent Capital LLC purchased a new stake in shares of Sphere Entertainment during the 3rd quarter valued at about $30,000. ORG Partners LLC raised its holdings in shares of Sphere Entertainment by 80.1% during the third quarter. ORG Partners LLC now owns 661 shares of the company’s stock valued at $41,000 after purchasing an additional 294 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Sphere Entertainment by 576.6% during the third quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock valued at $58,000 after purchasing an additional 790 shares during the last quarter. Quarry LP lifted its position in Sphere Entertainment by 1,614.0% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $61,000 after purchasing an additional 920 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Sphere Entertainment by 190.0% during the third quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $72,000 after purchasing an additional 796 shares during the period. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 4.8%

SPHR opened at $107.45 on Monday. The firm’s 50 day simple moving average is $105.06 and its two-hundred day simple moving average is $84.87. The company has a market capitalization of $3.81 billion, a PE ratio of -238.78 and a beta of 1.61. Sphere Entertainment Co. has a 1-year low of $23.89 and a 1-year high of $121.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SPHR shares. JPMorgan Chase & Co. lifted their target price on shares of Sphere Entertainment from $91.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Benchmark raised Sphere Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, February 17th. Guggenheim lifted their price objective on Sphere Entertainment from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 13th. New Street Research set a $110.00 price objective on Sphere Entertainment in a research report on Thursday, January 15th. Finally, Bank of America increased their target price on Sphere Entertainment from $48.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company 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.