Csenge Advisory Group Makes New $577,000 Investment in Sphere Entertainment Co. $SPHR

Csenge Advisory Group purchased a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,291 shares of the company’s stock, valued at approximately $577,000.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Sphere Entertainment by 204.9% during the third quarter. Signaturefd LLC now owns 186 shares of the company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Polaris Financial Partners acquired a new position in shares of Sphere Entertainment during the 3rd quarter worth $43,000. Parallel Advisors LLC increased its holdings in shares of Sphere Entertainment by 275.0% in the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after purchasing an additional 341 shares in the last quarter. Vision Retirement LLC increased its holdings in shares of Sphere Entertainment by 38.0% in the 1st quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after purchasing an additional 133 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Sphere Entertainment in the 3rd quarter valued at about $70,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Price Performance

SPHR stock opened at $125.83 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50 day moving average price is $122.93 and its 200 day moving average price is $131.13. The firm has a market cap of $4.52 billion, a P/E ratio of -26.66 and a beta of 1.72. Sphere Entertainment Co. has a 1 year low of $73.03 and a 1 year high of $181.63.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.66) by ($3.18). The business had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $269.71 million. Sphere Entertainment had a negative return on equity of 0.78% and a negative net margin of 11.60%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.80) EPS. On average, sell-side analysts expect that Sphere Entertainment Co. will post -5.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPHR shares. Wells Fargo & Company set a $200.00 price objective on shares of Sphere Entertainment in a report on Tuesday, October 6th. JPMorgan Chase & Co. reduced their price target on shares of Sphere Entertainment from $164.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, November 6th. BTIG Research decreased their price target on Sphere Entertainment from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Weiss Ratings cut Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (down from $185.00) on shares of Sphere Entertainment in a research note on Friday, October 23rd. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $156.60.

Sphere Entertainment 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.