Nomura Holdings Inc. Sells 110,229 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Nomura Holdings Inc. decreased its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 91.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,739 shares of the company’s stock after selling 110,229 shares during the quarter. Nomura Holdings Inc.’s holdings in Sphere Entertainment were worth $331,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SPHR. Ariel Investments LLC purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $171,186,000. Vanguard Group Inc. purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $99,941,000. Jericho Capital Asset Management L.P. purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $63,127,000. Primecap Management Co. CA purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $23,152,000. Finally, Alberta Investment Management Corp purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $13,392,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Separately, Seaport Res Ptn cut Sphere Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Sphere Entertainment presently has an average rating of “Hold” and a consensus price target of $35.60.

Sphere Entertainment Stock Performance

NYSE:SPHR opened at $33.28 on Friday. The business’s 50-day moving average price is $37.78 and its two-hundred day moving average price is $38.80. Sphere Entertainment Co. has a twelve month low of $26.02 and a twelve month high of $51.83. The stock has a market cap of $1.18 billion, a P/E ratio of 3.06 and a beta of 1.43. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.21.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Friday, May 10th. The company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.98). The business had revenue of $321.33 million during the quarter, compared to analysts’ expectations of $324.65 million. Sphere Entertainment had a net margin of 43.36% and a return on equity of 8.11%. The business’s revenue was up 98.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.08) EPS. As a group, equities analysts predict that Sphere Entertainment Co. will post -4.83 EPS for the current fiscal year.

Sphere Entertainment Company 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.