Capula Management Ltd Makes New $2 Million Investment in Sphere Entertainment Co. $SPHR

Capula Management Ltd bought a new position in Sphere Entertainment Co. (NYSE:SPHR) in the first quarter, Holdings Channel.com reports. The firm bought 17,011 shares of the company’s stock, valued at approximately $1,997,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPHR. Sei Investments Co. increased its holdings in shares of Sphere Entertainment by 30.8% in the first quarter. Sei Investments Co. now owns 25,373 shares of the company’s stock valued at $2,979,000 after purchasing an additional 5,972 shares during the period. State of Wyoming lifted its holdings in shares of Sphere Entertainment by 56.5% during the first quarter. State of Wyoming now owns 4,189 shares of the company’s stock worth $492,000 after purchasing an additional 1,513 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Sphere Entertainment by 20.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,421 shares of the company’s stock worth $402,000 after purchasing an additional 578 shares during the period. Convergence Investment Partners LLC purchased a new stake in Sphere Entertainment in the first quarter valued at approximately $3,859,000. Finally, Hollencrest Capital Management increased its holdings in Sphere Entertainment by 126.9% in the 1st quarter. Hollencrest Capital Management now owns 971 shares of the company’s stock worth $114,000 after buying an additional 543 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 3.2%

SPHR opened at $133.82 on Friday. The company has a fifty day moving average of $146.75 and a two-hundred day moving average of $125.25. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 75.18 and a beta of 1.61. Sphere Entertainment Co. has a fifty-two week low of $37.89 and a fifty-two week high of $174.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.22.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.27. The business had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the prior year, the company posted ($2.27) EPS. On average, research analysts expect that Sphere Entertainment Co. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

SPHR has been the subject of several research reports. Weiss Ratings upgraded shares of Sphere Entertainment from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Bank of America boosted their target price on shares of Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. BTIG Research reaffirmed a “buy” rating and issued a $190.00 price target on shares of Sphere Entertainment in a report on Tuesday, May 19th. Susquehanna increased their price target on Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a research report on Thursday, June 18th. Finally, Morgan Stanley restated an “overweight” rating and issued a $170.00 target price on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.08.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.