12,000 Shares in Sphere Entertainment Co. (NYSE:SPHR) Bought by GAM Holding AG

GAM Holding AG bought a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,000 shares of the company’s stock, valued at approximately $421,000.

Several other large investors also recently bought and sold shares of SPHR. Blue Trust Inc. purchased a new position in shares of Sphere Entertainment during the 2nd quarter worth approximately $27,000. National Bank of Canada FI acquired a new stake in Sphere Entertainment during the 4th quarter valued at $46,000. Quest Partners LLC purchased a new position in Sphere Entertainment during the fourth quarter worth $61,000. 1832 Asset Management L.P. acquired a new position in shares of Sphere Entertainment in the first quarter worth $85,000. Finally, Quent Capital LLC lifted its position in shares of Sphere Entertainment by 7,717.6% in the first quarter. Quent Capital LLC now owns 2,658 shares of the company’s stock valued at $130,000 after acquiring an additional 2,624 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Macquarie lifted their price objective on Sphere Entertainment from $38.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Guggenheim lowered their price target on shares of Sphere Entertainment from $48.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Morgan Stanley upped their price objective on shares of Sphere Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Benchmark assumed coverage on shares of Sphere Entertainment in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Sphere Entertainment from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $37.00 to $57.00 in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.00.

Sphere Entertainment Trading Down 0.3 %

SPHR stock traded down $0.15 on Tuesday, hitting $49.25. 151,226 shares of the company were exchanged, compared to its average volume of 707,298. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 4.51 and a beta of 1.41. Sphere Entertainment Co. has a twelve month low of $27.02 and a twelve month high of $51.83. The business’s fifty day moving average is $41.27 and its two-hundred day moving average is $41.48.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($2.00) EPS for the quarter, topping analysts’ consensus estimates of ($2.47) by $0.47. Sphere Entertainment had a return on equity of 8.11% and a net margin of 43.36%. The business had revenue of $273.40 million during the quarter, compared to the consensus estimate of $271.28 million. During the same period in the prior year, the firm posted $15.43 EPS. The business’s revenue for the quarter was up 111.8% on a year-over-year basis. As a group, research analysts forecast that Sphere Entertainment Co. will post -4.93 earnings per share for the current year.

About Sphere Entertainment

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.