Entropy Technologies LP Boosts Holdings in Sphere Entertainment Co. (NYSE:SPHR)

Entropy Technologies LP grew its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 108.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,816 shares of the company’s stock after acquiring an additional 7,194 shares during the period. Entropy Technologies LP’s holdings in Sphere Entertainment were worth $557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC lifted its position in shares of Sphere Entertainment by 5.1% during the 4th quarter. Empowered Funds LLC now owns 179,798 shares of the company’s stock valued at $7,249,000 after buying an additional 8,751 shares in the last quarter. Blue Trust Inc. increased its holdings in Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock worth $67,000 after acquiring an additional 912 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Sphere Entertainment by 101.6% during the fourth quarter. SG Americas Securities LLC now owns 11,504 shares of the company’s stock valued at $464,000 after purchasing an additional 5,799 shares in the last quarter. O Keefe Stevens Advisory Inc. boosted its position in shares of Sphere Entertainment by 2.5% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 192,144 shares of the company’s stock worth $7,747,000 after purchasing an additional 4,643 shares during the period. Finally, Carnegie Investment Counsel increased its stake in shares of Sphere Entertainment by 35.1% in the fourth quarter. Carnegie Investment Counsel now owns 225,860 shares of the company’s stock worth $9,107,000 after purchasing an additional 58,640 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Trading Up 0.9 %

Shares of SPHR stock opened at $46.69 on Thursday. The stock’s 50-day moving average price is $41.47 and its 200-day moving average price is $42.77. Sphere Entertainment Co. has a 12-month low of $32.10 and a 12-month high of $51.83. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -4.45 and a beta of 1.39. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly 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. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The company had revenue of $227.90 million for the quarter, compared to analysts’ expectations of $229.86 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. Sphere Entertainment’s quarterly revenue was up 93.1% on a year-over-year basis. Equities research analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their target price 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. Macquarie lowered their price objective on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, Guggenheim decreased their target price on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. One equities 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 company. According to data from MarketBeat, Sphere Entertainment presently has a consensus rating of “Hold” and a consensus price target of $47.75.

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.