SG Americas Securities LLC Purchases 5,799 Shares of Sphere Entertainment Co. (NYSE:SPHR)

SG Americas Securities LLC raised its stake in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 101.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,504 shares of the company's stock after purchasing an additional 5,799 shares during the period. SG Americas Securities LLC's holdings in Sphere Entertainment were worth $464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC raised its stake in shares of Sphere Entertainment by 913.8% in the 3rd quarter. Quent Capital LLC now owns 659 shares of the company's stock worth $28,000 after buying an additional 594 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company's stock worth $111,000 after purchasing an additional 810 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Sphere Entertainment during the 3rd quarter valued at $187,000. Concurrent Investment Advisors LLC acquired a new position in Sphere Entertainment in the 3rd quarter worth about $216,000. Finally, Tidal Investments LLC acquired a new position in shares of Sphere Entertainment during the 3rd quarter worth $225,000. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPHR has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of Sphere Entertainment from $45.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Guggenheim lowered their target price on shares of Sphere Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Finally, Macquarie decreased their target price on Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Sphere Entertainment currently has a consensus rating of "Hold" and an average price target of $47.75.

Sphere Entertainment Price Performance

SPHR stock traded up $2.25 during midday trading on Wednesday, reaching $47.48. 750,572 shares of the stock were exchanged, compared to its average volume of 672,303. The company has a fifty day moving average price of $40.81 and a 200 day moving average price of $42.66. The stock has a market capitalization of $1.68 billion, a PE ratio of -4.52 and a beta of 1.39. Sphere Entertainment Co. has a 52 week low of $32.10 and a 52 week high of $51.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping analysts' consensus estimates of ($3.32) by $0.37. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The business had revenue of $227.90 million during the quarter, compared to the consensus estimate of $229.86 million. During the same quarter last year, the firm earned $1.90 earnings per share. Sphere Entertainment's quarterly revenue was up 93.1% on a year-over-year basis. As a group, analysts expect that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

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.