419,742 Shares in Sphere Entertainment Co. $SPHR Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Sphere Entertainment Co. (NYSE:SPHR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 419,742 shares of the company’s stock, valued at approximately $39,909,000. Healthcare of Ontario Pension Plan Trust Fund owned about 1.19% of Sphere Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPHR. Hollencrest Capital Management bought a new position in Sphere Entertainment during the fourth quarter worth about $41,000. Caitong International Asset Management Co. Ltd boosted its position in Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after purchasing an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in Sphere Entertainment during the fourth quarter worth about $48,000. Flagship Harbor Advisors LLC bought a new position in Sphere Entertainment during the fourth quarter worth about $52,000. Finally, NewEdge Advisors LLC boosted its position in Sphere Entertainment by 576.6% during the third 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. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

SPHR stock opened at $153.22 on Monday. The firm has a 50 day moving average of $134.69 and a 200-day moving average of $112.15. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. Sphere Entertainment Co. has a 12 month low of $37.89 and a 12 month high of $154.57. The firm has a market capitalization of $5.44 billion, a P/E ratio of 86.08 and a beta of 1.65.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating 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 analyst estimates of $313.41 million. During the same period last year, the business earned ($2.27) earnings per share. Sphere Entertainment’s revenue was up 37.7% compared to the same quarter last year. As a group, sell-side analysts predict that Sphere Entertainment Co. will post -2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $170.00 target price on shares of Sphere Entertainment in a research report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $190.00 target price on shares of Sphere Entertainment in a research report on Tuesday, May 19th. Benchmark upgraded 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 report on Wednesday, May 6th. The Goldman Sachs Group increased their target price on shares of Sphere Entertainment from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Finally, Citizens Jmp increased their target price on shares of Sphere Entertainment from $150.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Sphere Entertainment has a consensus rating of “Moderate Buy” and a consensus 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.