Carnegie Investment Counsel Has $9.11 Million Position in Sphere Entertainment Co. (NYSE:SPHR)

Carnegie Investment Counsel grew its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 35.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 225,860 shares of the company's stock after purchasing an additional 58,640 shares during the quarter. Carnegie Investment Counsel owned 0.64% of Sphere Entertainment worth $9,107,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quent Capital LLC grew its position in Sphere Entertainment by 913.8% in the third quarter. Quent Capital LLC now owns 659 shares of the company's stock worth $28,000 after buying an additional 594 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sphere Entertainment by 46.3% during the 3rd 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Sphere Entertainment in the 3rd quarter worth $187,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Sphere Entertainment during the third quarter worth $216,000. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Sphere Entertainment during the third quarter valued at $219,000. Institutional investors own 92.03% of the company's stock.

Sphere Entertainment Stock Down 0.3 %

Shares of Sphere Entertainment stock traded down $0.13 on Friday, hitting $41.40. 1,002,900 shares of the company traded hands, compared to its average volume of 731,209. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a 12-month low of $30.03 and a 12-month high of $51.83. The company has a 50-day moving average price of $40.14 and a 200 day moving average price of $42.32. The company has a market cap of $1.46 billion, a PE ratio of -3.94 and a beta of 1.37.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $229.86 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The business's revenue was up 93.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 EPS. Sell-side analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPHR. Guggenheim cut their price objective on Sphere Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Macquarie reduced their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Morgan Stanley lowered their price objective on shares of Sphere Entertainment from $45.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Finally, Wolfe Research upgraded Sphere Entertainment from a "peer perform" rating to an "outperform" rating and set a $60.00 target price for the company in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Sphere Entertainment has a consensus rating of "Hold" and a consensus price target of $47.75.

About Sphere Entertainment

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.