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

O Keefe Stevens Advisory Inc. lifted its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,144 shares of the company’s stock after buying an additional 4,643 shares during the period. Sphere Entertainment comprises about 2.4% of O Keefe Stevens Advisory Inc.’s investment portfolio, making the stock its 18th largest holding. O Keefe Stevens Advisory Inc. owned 0.54% of Sphere Entertainment worth $7,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SPHR. Quent Capital LLC lifted its position in Sphere Entertainment by 913.8% during the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $28,000 after buying an additional 594 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Sphere Entertainment by 46.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock worth $111,000 after acquiring an additional 810 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Sphere Entertainment in the third quarter valued at approximately $187,000. Concurrent Investment Advisors LLC acquired a new position in shares of Sphere Entertainment during the 3rd quarter worth approximately $216,000. Finally, Tidal Investments LLC bought a new stake in shares of Sphere Entertainment during the 3rd quarter worth approximately $225,000. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Trading Down 0.3 %

Shares of Sphere Entertainment stock opened at $41.40 on Friday. 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 Co. has a twelve month low of $30.03 and a twelve month high of $51.83. The company has a 50-day simple moving average of $40.14 and a two-hundred day simple moving average of $42.32.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.37. The company 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 in the previous year, the business earned $1.90 earnings per share. Equities research analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SPHR. Wolfe Research raised shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Wednesday, October 2nd. Morgan Stanley reduced 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 report on Monday, November 11th. Guggenheim cut their target price on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Macquarie decreased their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. 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. Based on data from MarketBeat, Sphere Entertainment presently has a consensus rating of “Hold” and a consensus target price of $47.75.

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.