Squarepoint Ops LLC Has $4.17 Million Stock Position in Sphere Entertainment Co. (NYSE:SPHR)

Squarepoint Ops LLC grew its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 118,914 shares of the company’s stock after acquiring an additional 15,813 shares during the quarter. Squarepoint Ops LLC owned 0.34% of Sphere Entertainment worth $4,169,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Gabelli Funds LLC boosted its holdings in Sphere Entertainment by 1.8% in the 4th quarter. Gabelli Funds LLC now owns 669,870 shares of the company’s stock valued at $22,749,000 after purchasing an additional 11,700 shares during the period. Seven Eight Capital LP grew its position in Sphere Entertainment by 145.1% during the fourth quarter. Seven Eight Capital LP now owns 64,653 shares of the company’s stock worth $2,196,000 after buying an additional 38,271 shares in the last quarter. Caxton Associates LP raised its holdings in Sphere Entertainment by 127.5% in the 4th quarter. Caxton Associates LP now owns 56,581 shares of the company’s stock valued at $1,921,000 after acquiring an additional 31,713 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its position in shares of Sphere Entertainment by 18.3% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 225,000 shares of the company’s stock valued at $7,641,000 after acquiring an additional 34,789 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Sphere Entertainment by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 2,789,782 shares of the company’s stock worth $94,741,000 after purchasing an additional 100,311 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Sphere Entertainment Stock Up 1.8 %

Shares of SPHR opened at $44.18 on Tuesday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 4.06 and a beta of 1.41. Sphere Entertainment Co. has a 52 week low of $27.02 and a 52 week high of $51.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a fifty day moving average of $43.69 and a 200-day moving average of $41.39.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($2.00) EPS for the quarter, beating analysts’ consensus estimates of ($2.47) by $0.47. Sphere Entertainment had a negative return on equity of 9.02% and a negative net margin of 19.54%. The firm had revenue of $273.40 million for the quarter, compared to analyst estimates of $271.28 million. During the same period last year, the firm posted $15.43 earnings per share. The business’s revenue for the quarter was up 111.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Sphere Entertainment Co. will post -9.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Guggenheim boosted their price target on Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Benchmark reiterated a “sell” rating and set a $40.00 price target on shares of Sphere Entertainment in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Sphere Entertainment from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $37.00 to $57.00 in a research report on Friday, August 16th. Morgan Stanley raised their target price on Sphere Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Finally, Macquarie boosted their price target on Sphere Entertainment from $38.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Sphere Entertainment has an average rating of “Hold” and a consensus price target of $49.17.

Sphere Entertainment 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.