Poehling Capital Management INC. Trims Stake in Sphere Entertainment Co. $SPHR

Poehling Capital Management INC. lowered its position in Sphere Entertainment Co. (NYSE:SPHR) by 24.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,900 shares of the company’s stock after selling 6,131 shares during the period. Poehling Capital Management INC. owned approximately 0.05% of Sphere Entertainment worth $2,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of Sphere Entertainment in the fourth quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd boosted its holdings in Sphere Entertainment by 53.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after acquiring an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in Sphere Entertainment in the 4th quarter valued at $48,000. Flagship Harbor Advisors LLC purchased a new stake in Sphere Entertainment in the fourth quarter worth $52,000. Finally, Rockefeller Capital Management L.P. increased its stake in Sphere Entertainment by 19.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock worth $58,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Trading Up 5.2%

Shares of NYSE SPHR opened at $169.69 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $6.02 billion, a P/E ratio of 95.33 and a beta of 1.64. Sphere Entertainment Co. has a 1-year low of $37.89 and a 1-year high of $171.47. The business has a fifty day moving average price of $140.49 and a 200 day moving average price of $117.18.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.27. The company had revenue of $386.41 million for the quarter, compared to the consensus estimate of $313.41 million. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter last year, the company earned ($2.27) earnings per share. Equities research analysts expect that Sphere Entertainment Co. will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SPHR shares. BTIG Research reissued a “buy” rating and set a $190.00 target price on shares of Sphere Entertainment in a research note on Tuesday, May 19th. Bank of America upped their target price on shares of Sphere Entertainment from $110.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Seaport Research Partners reaffirmed a “buy” rating and set a $173.00 target price on shares of Sphere Entertainment in a research report on Wednesday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price target on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Finally, Citigroup reissued a “market outperform” rating on shares of Sphere Entertainment in a research note on Wednesday, June 17th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Sphere Entertainment currently has an average rating of “Moderate Buy” and an average target price of $151.15.

About Sphere Entertainment

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.