North Star Investment Management Corp. Acquires 3,560 Shares of Sphere Entertainment Co. (NYSE:SPHR)

North Star Investment Management Corp. boosted its stake in Sphere Entertainment Co. (NYSE:SPHR) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,480 shares of the company’s stock after purchasing an additional 3,560 shares during the quarter. North Star Investment Management Corp. owned about 0.38% of Sphere Entertainment worth $5,941,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 valued at $94,741,000 after acquiring an additional 100,311 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Sphere Entertainment during the first quarter valued at approximately $255,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Sphere Entertainment by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,303 shares of the company’s stock worth $871,000 after buying an additional 2,334 shares during the last quarter. Jennison Associates LLC purchased a new stake in Sphere Entertainment during the first quarter valued at about $774,000. Finally, Central Pacific Bank Trust Division bought a new stake in Sphere Entertainment in the 1st quarter worth approximately $464,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Trading Up 2.3 %

Shares of SPHR stock traded up $0.96 during trading hours on Tuesday, reaching $42.83. 76,567 shares of the stock were exchanged, compared to its average volume of 736,373. Sphere Entertainment Co. has a 12-month low of $27.02 and a 12-month high of $51.83. The company’s 50-day moving average price is $44.02 and its 200-day moving average price is $41.27. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -7.40 and a beta of 1.41. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($2.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.47) by $0.47. The business had revenue of $273.40 million for the quarter, compared to the consensus estimate of $271.28 million. Sphere Entertainment had a negative return on equity of 9.02% and a negative net margin of 19.54%. The business’s revenue was up 111.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $15.43 EPS. As a group, equities analysts anticipate that Sphere Entertainment Co. will post -9.6 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Sphere Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Guggenheim lifted their price objective on Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America reduced their target price on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised Sphere Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $37.00 to $57.00 in a research report on Friday, August 16th. Finally, Benchmark restated a “sell” rating and set a $40.00 price target on shares of Sphere Entertainment in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Hold” and an average price target of $50.71.

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.