Radnor Capital Management LLC Has $900,000 Position in Sphere Entertainment Co. (NYSE:SPHR)

Radnor Capital Management LLC lessened its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 22,320 shares of the company’s stock after selling 1,350 shares during the period. Radnor Capital Management LLC owned approximately 0.06% of Sphere Entertainment worth $900,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ariel Investments LLC boosted its holdings in Sphere Entertainment by 8.2% in the 2nd quarter. Ariel Investments LLC now owns 5,538,121 shares of the company’s stock valued at $194,167,000 after purchasing an additional 419,581 shares during the period. Geode Capital Management LLC raised its position in shares of Sphere Entertainment by 2.7% during the third quarter. Geode Capital Management LLC now owns 938,463 shares of the company’s stock valued at $39,921,000 after buying an additional 24,772 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Sphere Entertainment by 1,425.2% during the third quarter. Assenagon Asset Management S.A. now owns 899,614 shares of the company’s stock valued at $38,261,000 after buying an additional 840,631 shares during the last quarter. State Street Corp lifted its stake in shares of Sphere Entertainment by 0.4% in the third quarter. State Street Corp now owns 896,795 shares of the company’s stock valued at $38,141,000 after buying an additional 3,463 shares during the period. Finally, Systematic Financial Management LP grew its position in Sphere Entertainment by 5.3% during the third quarter. Systematic Financial Management LP now owns 891,493 shares of the company’s stock worth $37,915,000 after buying an additional 45,261 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. 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 report on Wednesday, October 2nd. Macquarie cut their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Guggenheim decreased their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Morgan Stanley dropped their price objective on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.75.

Sphere Entertainment Stock Up 0.6 %

Shares of NYSE SPHR opened at $41.77 on Thursday. The business has a fifty day moving average of $40.24 and a two-hundred day moving average of $42.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment Co. has a 52-week low of $29.70 and a 52-week high of $51.83. The stock has a market cap of $1.48 billion, a PE ratio of -3.98 and a beta of 1.37.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.32) by $0.37. The firm had revenue of $227.90 million during the quarter, compared to the consensus estimate of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The firm’s quarterly revenue was up 93.1% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. As a group, equities research analysts expect 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.