UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.79 Million Holdings in Sphere Entertainment Co. (NYSE:SPHR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,481 shares of the company’s stock after selling 4,054 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of Sphere Entertainment worth $1,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SPHR. Blue Trust Inc. bought a new stake in shares of Sphere Entertainment during the second quarter worth $27,000. Summit Securities Group LLC bought a new stake in shares of Sphere Entertainment during the second quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock worth $111,000 after acquiring an additional 810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sphere Entertainment by 36.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,357 shares of the company’s stock worth $188,000 after acquiring an additional 1,425 shares during the last quarter. Finally, Quent Capital LLC raised its position in shares of Sphere Entertainment by 15.5% during the third quarter. Quent Capital LLC now owns 4,658 shares of the company’s stock worth $206,000 after acquiring an additional 624 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 1.5 %

NYSE:SPHR opened at $37.81 on Monday. Sphere Entertainment Co. has a 1 year low of $29.70 and a 1 year high of $51.83. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -3.60 and a beta of 1.38. The stock has a 50-day moving average price of $42.29 and a two-hundred day moving average price of $41.67.

Sphere Entertainment (NYSE:SPHR) last posted 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 company had revenue of $227.90 million during the quarter, compared to analysts’ expectations of $229.86 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. Sphere Entertainment’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. As a group, equities analysts expect that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPHR has been the subject of a number of recent research reports. Guggenheim boosted their target price on Sphere Entertainment from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Macquarie dropped their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Bank of America dropped their price objective on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Benchmark reiterated a “sell” rating and issued a $40.00 price objective on shares of Sphere Entertainment in a report on Tuesday, September 3rd. Finally, Wolfe Research upgraded Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.43.

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.