O Keefe Stevens Advisory Inc. Buys 16,548 Shares of Sphere Entertainment Co. (NYSE:SPHR)

O Keefe Stevens Advisory Inc. increased its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 9.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 187,501 shares of the company’s stock after acquiring an additional 16,548 shares during the period. Sphere Entertainment accounts for about 2.5% of O Keefe Stevens Advisory Inc.’s holdings, making the stock its 16th largest position. O Keefe Stevens Advisory Inc. owned about 0.53% of Sphere Entertainment worth $8,284,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Quent Capital LLC boosted its holdings in shares of Sphere Entertainment by 15.5% during the 3rd quarter. Quent Capital LLC now owns 4,658 shares of the company’s stock worth $206,000 after buying an additional 624 shares during the period. SG Americas Securities LLC bought a new stake in Sphere Entertainment during the third quarter valued at about $252,000. Sanctuary Advisors LLC acquired a new stake in shares of Sphere Entertainment in the second quarter valued at about $2,332,000. Ariadne Wealth Management LP bought a new position in shares of Sphere Entertainment in the second quarter worth about $993,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Sphere Entertainment during the 2nd quarter worth about $344,000. 92.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPHR has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Sphere Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Benchmark restated a “sell” rating and issued a $40.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, September 3rd. Macquarie boosted their target price on shares of Sphere Entertainment from $38.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the company from $37.00 to $57.00 in a report on Friday, August 16th. Finally, Guggenheim boosted their price objective on shares of Sphere Entertainment from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.71.

Sphere Entertainment Stock Down 2.8 %

Shares of SPHR stock opened at $43.80 on Wednesday. The stock has a market cap of $1.55 billion, a P/E ratio of 4.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a fifty day moving average price of $43.82 and a 200 day moving average price of $41.33. Sphere Entertainment Co. has a one year low of $27.02 and a one year high of $51.83.

Sphere Entertainment (NYSE:SPHR) last issued its earnings results on Wednesday, August 14th. The company reported ($2.00) earnings per share for the quarter, beating the consensus estimate of ($2.47) by $0.47. The business had revenue of $273.40 million for the quarter, compared to analyst estimates of $271.28 million. Sphere Entertainment had a negative net margin of 19.54% and a negative return on equity of 9.02%. The firm’s revenue was up 111.8% on a year-over-year basis. During the same period in the previous year, the business earned $15.43 EPS. Analysts predict that Sphere Entertainment Co. will post -9.24 earnings per share for the current year.

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.