O Keefe Stevens Advisory Inc. Buys 4,643 Shares of Sphere Entertainment Co. (NYSE:SPHR)

O Keefe Stevens Advisory Inc. boosted its position in Sphere Entertainment Co. (NYSE:SPHR) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,144 shares of the company’s stock after purchasing an additional 4,643 shares during the period. Sphere Entertainment accounts for about 2.4% of O Keefe Stevens Advisory Inc.’s portfolio, making the stock its 18th biggest holding. O Keefe Stevens Advisory Inc.’s holdings in Sphere Entertainment were worth $7,747,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Sphere Entertainment by 10.6% during the second quarter. Rhumbline Advisers now owns 67,303 shares of the company’s stock worth $2,304,000 after buying an additional 6,466 shares during the period. Victory Capital Management Inc. raised its position in shares of Sphere Entertainment by 15.9% during the second quarter. Victory Capital Management Inc. now owns 22,167 shares of the company’s stock worth $777,000 after purchasing an additional 3,033 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Sphere Entertainment by 134.4% in the second quarter. Renaissance Technologies LLC now owns 332,435 shares of the company’s stock valued at $11,655,000 after buying an additional 190,600 shares in the last quarter. XTX Topco Ltd bought a new position in Sphere Entertainment in the 2nd quarter valued at about $379,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Sphere Entertainment by 29.6% in the second quarter. Canada Pension Plan Investment Board now owns 110,200 shares of the company’s stock valued at $3,772,000 after purchasing an additional 25,200 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

SPHR has been the subject of several analyst reports. Morgan Stanley lowered 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 cut their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Wolfe Research raised Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Wednesday, October 2nd. Finally, Guggenheim decreased their target price on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.75.

Sphere Entertainment Trading Down 0.3 %

NYSE SPHR opened at $41.40 on Friday. The company’s 50 day moving average is $40.14 and its 200-day moving average is $42.32. Sphere Entertainment Co. has a 12-month low of $30.03 and a 12-month 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) last posted its earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.32) by $0.37. The firm had revenue of $227.90 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 earnings per share. Equities research analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current 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.