Wilmington Savings Fund Society FSB Makes New $187,000 Investment in Sphere Entertainment Co. (NYSE:SPHR)

Wilmington Savings Fund Society FSB purchased a new stake in Sphere Entertainment Co. (NYSE:SPHR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,225 shares of the company’s stock, valued at approximately $187,000.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in Sphere Entertainment during the 2nd quarter valued at approximately $27,000. Summit Securities Group LLC bought a new stake in shares of Sphere Entertainment in the 2nd quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock worth $111,000 after buying an additional 810 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sphere Entertainment by 36.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,357 shares of the company’s stock worth $188,000 after buying an additional 1,425 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in Sphere Entertainment by 15.5% in the third quarter. Quent Capital LLC now owns 4,658 shares of the company’s stock valued at $206,000 after buying an additional 624 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $36.96 on Thursday. Sphere Entertainment Co. has a twelve month low of $29.70 and a twelve month high of $51.83. The stock’s 50 day moving average is $41.92 and its 200-day moving average is $41.66. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -3.52 and a beta of 1.38.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.37. The firm had revenue of $227.90 million for the quarter, compared to analyst estimates of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The business’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same period last year, the firm earned $1.90 earnings per share. Sell-side analysts forecast that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wolfe Research raised Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Wednesday, October 2nd. Guggenheim raised their target price on Sphere Entertainment from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America dropped their price target on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. Macquarie reduced their price objective on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Benchmark reiterated a “sell” rating and set a $40.00 target price on shares of Sphere Entertainment in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.43.

Sphere Entertainment Profile

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.