Sender Co & Partners Inc. Sells 32,224 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Sender Co & Partners Inc. decreased its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 79.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,522 shares of the company’s stock after selling 32,224 shares during the period. Sender Co & Partners Inc.’s holdings in Sphere Entertainment were worth $377,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SPHR. Blue Trust Inc. acquired a new stake in shares of Sphere Entertainment in the 2nd quarter valued at $27,000. Summit Securities Group LLC acquired a new stake in Sphere Entertainment in the second quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 purchasing an additional 810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sphere Entertainment by 36.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,357 shares of the company’s stock valued at $188,000 after purchasing an additional 1,425 shares during the period. Finally, Quent Capital LLC boosted its stake in shares of Sphere Entertainment by 15.5% in the 3rd quarter. Quent Capital LLC now owns 4,658 shares of the company’s stock valued at $206,000 after purchasing an additional 624 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America cut their price target on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upgraded Sphere Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $37.00 to $57.00 in a report on Friday, August 16th. Guggenheim upped 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. Wolfe Research upgraded shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research report on Wednesday, October 2nd. Finally, Macquarie decreased their price objective on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Sphere Entertainment currently has a consensus rating of “Hold” and an average price target of $50.43.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR opened at $37.81 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $42.90 and a 200 day moving average price of $41.60. The stock has a market capitalization of $1.34 billion, a PE ratio of -3.60 and a beta of 1.38. Sphere Entertainment Co. has a 52 week low of $29.70 and a 52 week high of $51.83.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.37. The firm had revenue of $227.90 million during the quarter, compared to analysts’ expectations of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. Analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

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.