Symmetry Investments LP Takes Position in Sphere Entertainment Co. (NYSE:SPHR)

Symmetry Investments LP purchased a new position in Sphere Entertainment Co. (NYSE:SPHR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,000 shares of the company’s stock, valued at approximately $701,000. Symmetry Investments LP owned approximately 0.06% of Sphere Entertainment as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. bought a new position in shares of Sphere Entertainment in the 2nd quarter worth about $27,000. Summit Securities Group LLC acquired a new position in Sphere Entertainment in the second quarter valued at approximately $54,000. 1832 Asset Management L.P. acquired a new stake in shares of Sphere Entertainment during the 1st quarter worth approximately $85,000. Quest Partners LLC bought a new stake in shares of Sphere Entertainment in the 4th quarter worth approximately $61,000. Finally, Quent Capital LLC boosted its position in Sphere Entertainment by 7,717.6% during the 1st quarter. Quent Capital LLC now owns 2,658 shares of the company’s stock valued at $130,000 after purchasing an additional 2,624 shares during the period. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPHR has been the topic of a number of recent research reports. Bank of America cut their target price on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upgraded shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $37.00 to $57.00 in a research report on Friday, August 16th. Macquarie lifted their price target on Sphere Entertainment from $38.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, August 16th. 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 research report on Thursday, July 11th. Finally, Benchmark reiterated a “sell” rating and set a $40.00 price target on shares of Sphere Entertainment in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.17.

Sphere Entertainment Stock Down 3.9 %

Shares of SPHR stock opened at $41.09 on Friday. Sphere Entertainment Co. has a 1 year low of $27.02 and a 1 year high of $51.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The business’s fifty day moving average is $43.83 and its 200-day moving average is $41.74. The stock has a market cap of $1.45 billion, a PE ratio of 3.77 and a beta of 1.41.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($2.00) EPS for the quarter, topping the consensus estimate of ($2.47) by $0.47. Sphere Entertainment had a negative net margin of 19.54% and a negative return on equity of 9.02%. The firm had revenue of $273.40 million for the quarter, compared to analysts’ expectations of $271.28 million. During the same period in the previous year, the business earned $15.43 earnings per share. Sphere Entertainment’s revenue for the quarter was up 111.8% compared to the same quarter last year. Equities analysts expect that Sphere Entertainment Co. will post -6.9 earnings per share 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.