Sphere Entertainment Co. (NYSE:SPHR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,438 shares of the company’s stock after purchasing an additional 271 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Sphere Entertainment worth $991,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Entropy Technologies LP acquired a new position in shares of Sphere Entertainment in the third quarter valued at approximately $293,000. Covestor Ltd grew its holdings in shares of Sphere Entertainment by 3.5% in the third quarter. Covestor Ltd now owns 9,077 shares of the company’s stock valued at $401,000 after purchasing an additional 305 shares in the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Sphere Entertainment by 1.1% in the third quarter. Washington Trust Advisors Inc. now owns 198,774 shares of the company’s stock valued at $8,782,000 after purchasing an additional 2,102 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Sphere Entertainment in the third quarter valued at approximately $216,000. Finally, Radnor Capital Management LLC grew its holdings in shares of Sphere Entertainment by 3.6% in the third quarter. Radnor Capital Management LLC now owns 23,670 shares of the company’s stock valued at $1,046,000 after purchasing an additional 825 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

SPHR has been the subject of a number of research reports. Macquarie dropped their price objective on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Wolfe Research upgraded shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Wednesday, October 2nd. Benchmark reiterated a “sell” rating and set a $40.00 price target on shares of Sphere Entertainment in a report on Tuesday, September 3rd. Guggenheim boosted their price target 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. Finally, JPMorgan Chase & Co. upgraded shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $37.00 to $57.00 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.43.

Sphere Entertainment Stock Down 2.0 %

Shares of NYSE:SPHR opened at $40.22 on Thursday. The company has a market capitalization of $1.42 billion, a PE ratio of -3.83 and a beta of 1.41. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a twelve month low of $27.02 and a twelve month high of $51.83. The firm has a 50 day simple moving average of $43.34 and a 200-day simple moving average of $41.44.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping the consensus estimate of ($3.32) by $0.37. The business had revenue of $227.90 million during the quarter, compared to the consensus estimate of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The company’s revenue was up 93.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. On average, equities analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

About Sphere Entertainment

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.