Sphere Entertainment Co. $SPHR Shares Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 23,816.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,480 shares of the company’s stock after buying an additional 11,432 shares during the period. Fulcrum Asset Management LLP’s holdings in Sphere Entertainment were worth $1,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Sphere Entertainment by 712.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 108,097 shares of the company’s stock worth $13,896,000 after buying an additional 94,785 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Sphere Entertainment by 5.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,323 shares of the company’s stock valued at $447,000 after acquiring an additional 164 shares in the last quarter. Covestor Ltd lifted its position in shares of Sphere Entertainment by 5.4% during the 3rd quarter. Covestor Ltd now owns 3,225 shares of the company’s stock valued at $433,000 after acquiring an additional 166 shares during the period. Putney Financial Group LLC lifted its position in shares of Sphere Entertainment by 2.9% during the 3rd quarter. Putney Financial Group LLC now owns 4,192 shares of the company’s stock valued at $564,000 after acquiring an additional 117 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Sphere Entertainment during the 3rd quarter valued at $70,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 3.7%

Shares of NYSE:SPHR opened at $126.79 on Thursday. The firm has a market cap of $4.55 billion, a P/E ratio of -26.86 and a beta of 1.72. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Sphere Entertainment Co. has a 12-month low of $73.03 and a 12-month high of $181.63. The business has a fifty day simple moving average of $123.61 and a 200 day simple moving average of $130.84.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($4.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.66) by ($3.18). The firm had revenue of $274.26 million during the quarter, compared to analyst estimates of $269.71 million. Sphere Entertainment had a negative return on equity of 0.78% and a negative net margin of 11.60%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted ($2.80) EPS. Analysts predict that Sphere Entertainment Co. will post -5.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SPHR shares. Weiss Ratings downgraded shares of Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Susquehanna restated a “positive” rating and issued a $156.00 target price on shares of Sphere Entertainment in a research report on Friday, November 6th. Craig Hallum downgraded shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price target for the company. in a report on Monday, October 5th. Guggenheim reduced their price target on shares of Sphere Entertainment from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Finally, BTIG Research decreased their price objective on shares of Sphere Entertainment from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.60.

Sphere Entertainment Company Profile

Sphere Entertainment Co. is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications. MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.