18,100 Shares in Sphere Entertainment Co. $SPHR Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sphere Entertainment Co. (NYSE:SPHR) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 18,100 shares of the company’s stock, valued at approximately $757,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ariel Investments LLC grew its position in Sphere Entertainment by 9.6% in the first quarter. Ariel Investments LLC now owns 6,298,139 shares of the company’s stock worth $206,075,000 after acquiring an additional 553,947 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after purchasing an additional 357,794 shares in the last quarter. Deutsche Bank AG increased its position in Sphere Entertainment by 292.8% during the first quarter. Deutsche Bank AG now owns 448,729 shares of the company’s stock worth $14,682,000 after buying an additional 334,500 shares during the last quarter. Northern Trust Corp raised its holdings in Sphere Entertainment by 41.2% during the first quarter. Northern Trust Corp now owns 523,839 shares of the company’s stock valued at $17,140,000 after buying an additional 152,893 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in Sphere Entertainment during the first quarter valued at about $2,325,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR opened at $75.99 on Friday. Sphere Entertainment Co. has a 12 month low of $23.89 and a 12 month high of $81.47. The company has a market cap of $2.68 billion, a P/E ratio of -14.70 and a beta of 1.79. The business’s 50 day moving average is $66.16 and its two-hundred day moving average is $50.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($1.37) earnings per share for the quarter, beating the consensus estimate of ($1.62) by $0.25. The company had revenue of $262.51 million during the quarter, compared to analysts’ expectations of $259.34 million. Sphere Entertainment had a negative return on equity of 17.20% and a negative net margin of 13.87%. On average, equities analysts expect that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, October 8th. Benchmark upped their target price on Sphere Entertainment from $35.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. BTIG Research initiated coverage on Sphere Entertainment in a report on Monday, October 6th. They set a “neutral” rating on the stock. The Goldman Sachs Group boosted their price objective on shares of Sphere Entertainment from $69.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Morgan Stanley upped their price objective on shares of Sphere Entertainment from $40.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.88.

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.