Stratos Wealth Partners LTD. Increases Stock Holdings in Sphere Entertainment Co. $SPHR

Stratos Wealth Partners LTD. lifted its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 141.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 27,947 shares of the company’s stock after buying an additional 16,351 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sphere Entertainment were worth $2,657,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Stratos Wealth Advisors LLC purchased a new position in shares of Sphere Entertainment during the fourth quarter valued at approximately $235,000. Philip James Wealth Mangement LLC boosted its position in shares of Sphere Entertainment by 5.4% during the fourth quarter. Philip James Wealth Mangement LLC now owns 7,474 shares of the company’s stock valued at $711,000 after buying an additional 384 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in shares of Sphere Entertainment during the fourth quarter valued at approximately $1,694,000. ORG Partners LLC boosted its position in shares of Sphere Entertainment by 35.4% during the fourth quarter. ORG Partners LLC now owns 895 shares of the company’s stock valued at $85,000 after buying an additional 234 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Sphere Entertainment by 84.6% during the fourth quarter. SG Americas Securities LLC now owns 87,283 shares of the company’s stock valued at $8,299,000 after buying an additional 40,002 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 0.8%

SPHR stock opened at $126.20 on Tuesday. The stock’s fifty day simple moving average is $109.48 and its two-hundred day simple moving average is $89.54. 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 Co. has a 1-year low of $23.89 and a 1-year high of $130.33. The stock has a market cap of $4.48 billion, a P/E ratio of -280.44 and a beta of 1.67.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Thursday, February 12th. The company reported $1.23 earnings per share 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 business had revenue of $394.28 million for the quarter, compared to analysts’ expectations of $377.60 million. During the same quarter in the previous year, the firm earned ($3.49) earnings per share. The business’s revenue was up 27.9% on a year-over-year basis. Analysts expect that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SPHR shares. Morgan Stanley reaffirmed an “overweight” rating and set a $135.00 target price on shares of Sphere Entertainment in a research report on Friday, February 13th. JPMorgan Chase & Co. lifted their target price on Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $126.00 target price on shares of Sphere Entertainment in a research report on Friday, February 13th. Craig Hallum reissued a “buy” rating and issued a $100.00 price objective on shares of Sphere Entertainment in a research report on Thursday, December 18th. Finally, Citizens Jmp assumed coverage on Sphere Entertainment in a research report on Monday, March 30th. They issued an “outperform” rating and a $150.00 price objective on the stock. Nine 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. Based on data from MarketBeat.com, Sphere Entertainment presently has an average rating of “Moderate Buy” and an average target price of $110.46.

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.