Cookson Peirce & Co. Inc. Acquires New Shares in Sphere Entertainment Co. $SPHR

Cookson Peirce & Co. Inc. acquired a new stake in Sphere Entertainment Co. (NYSE:SPHR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,695 shares of the company’s stock, valued at approximately $2,063,000. Cookson Peirce & Co. Inc. owned approximately 0.06% of Sphere Entertainment as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Sphere Entertainment in the 4th quarter valued at $48,000. Flagship Harbor Advisors LLC acquired a new position in Sphere Entertainment in the 4th quarter worth $52,000. NewEdge Advisors LLC boosted its stake in Sphere Entertainment by 576.6% in the 3rd quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock worth $58,000 after purchasing an additional 790 shares during the period. Quarry LP boosted its stake in Sphere Entertainment by 1,614.0% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $61,000 after purchasing an additional 920 shares during the period. Finally, Larson Financial Group LLC acquired a new position in Sphere Entertainment in the 4th quarter worth $68,000. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Trading Up 0.4%

Sphere Entertainment stock opened at $140.10 on Monday. The firm has a 50-day moving average of $131.38 and a 200-day moving average of $109.75. Sphere Entertainment Co. has a one year low of $36.90 and a one year high of $149.00. 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 company has a market cap of $4.97 billion, a price-to-earnings ratio of 78.71 and a beta of 1.64.

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

Wall Street Analyst Weigh In

SPHR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Sphere Entertainment from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. 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. The Goldman Sachs Group upped their target price on shares of Sphere Entertainment from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Finally, Benchmark raised shares of Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.92.

Sphere Entertainment Company 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.