Sphere Entertainment Stock Soared This Week. Here's Why.
Sphere Entertainment grew revenue at its Las Vegas location from near zero to $150 million in just one quarter. The consolidated company is unprofitable but trending in the right direction.
Sphere Entertainment Grateful for Dead & Co. Residency
Sphere Entertainment (SPHR) shares are rocking Wednesday after the iconic Las Vegas venue owner posted a narrower-than-expected loss in its fiscal fourth quarter.
Sphere Entertainment (SPHR) Reports Q4 Loss, Tops Revenue Estimates
Sphere Entertainment (SPHR) came out with a quarterly loss of $2 per share versus the Zacks Consensus Estimate of a loss of $2.47. This compares to earnings of $10.21 per share a year ago.
Ken Griffin's Citadel boosts stake in James Dolan's Sphere weeks after Steve Cohen's investment
Citadel's stake in Sphere Entertainment rose from 1.6% to 5.3%, according to SEC filings released on Monday.
Ken Griffin Is Upping His Bet on Sphere Entertainment (SPHR) Stock
One of Wall Street's heaviest hitters has confirmed a sizable investment in Sphere Entertainment (NYSE: SPHR ). Ken Griffin, founder and CEO of Citadel Securities, had previously held a 1.5% in the entertainment company.
Sphere Entertainment: Potentials To Be Realized With The Next-Generation Venue
Sphere Entertainment opened a new MSG Entertainment Sphere in Las Vegas, offering immersive experiences and revenue generation through live events and content creation. The company's stock market movement is positive, with potential expansion plans in London and other locations, making it a suitable investment portfolio. Sphere's business strategy focuses on premier immersive content creation, partnerships, and revenue diversification to establish itself as a must-visit destination for live entertainment.
Billionaire Steve Cohen Just Took a 5.5% Stake in Sphere Entertainment (SPHR) Stock
Sphere Entertainment (NYSE: SPHR ) stock investors are excited on Wednesday after billionaire Steve Cohen took a large stake in the live entertainment event company's shares. Steve Cohen's Point72 Asset Management, L.P.
National Bank of Canada FI Invests $46,000 in Sphere Entertainment Co. (NYSE:SPHR)
National Bank of Canada FI bought a new position in shares of Sphere Entertainment Co. (NYSE:SPHR – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,367 shares of the company’s stock, valued at approximately $46,000. Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Sphere Entertainment by 2.2% during the fourth quarter. Victory Capital Management Inc. now owns 20,851 shares of the company’s stock worth $708,000 after acquiring an additional 457 shares in the last quarter. Carnegie Capital Asset Management LLC bought a new stake in shares of Sphere Entertainment during the fourth quarter worth about $4,734,000. Mirae Asset Global Investments Co. Ltd. grew its position in Sphere Entertainment by 22.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,969 shares of the company’s stock worth $474,000 after purchasing an additional 2,566 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in Sphere Entertainment in the 4th quarter valued at about $337,000. Finally, Washington Trust Advisors Inc. purchased a new stake in Sphere Entertainment in the 4th quarter valued at about $6,291,000. 92.03% of the stock is owned by institutional investors. Wall Street Analyst Weigh In Several equities research analysts have commented on the stock. Seaport Res Ptn lowered shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. raised their price target on shares of Sphere Entertainment from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, Bank of America initiated coverage on shares of Sphere Entertainment in a research note on Wednesday, February 7th. They set a “neutral” rating and a $43.00 price target for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.60. Check Out Our Latest Analysis on Sphere Entertainment Sphere Entertainment Price Performance Shares of NYSE:SPHR opened at $36.04 on Monday. The stock has a market cap of $1.27 billion, a PE ratio of 3.31 and a beta of 1.46. The company’s fifty day moving average is $43.22 and its 200 day moving average is $38.58. Sphere Entertainment Co. has a 52 week low of $22.82 and a 52 week high of $51.83. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.21. Sphere Entertainment (NYSE:SPHR – Get Free Report) last issued its earnings results on Friday, May 10th. The company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.98). Sphere Entertainment had a return on equity of 8.11% and a net margin of 43.36%. The business had revenue of $321.33 million during the quarter, compared to analysts’ expectations of $324.65 million. During the same quarter in the previous year, the business earned ($1.08) EPS. Sphere Entertainment’s revenue for the quarter was up 98.3% compared to the same quarter last year. Research analysts anticipate that Sphere Entertainment Co. will post -4.73 earnings per share for the current year. Insider Buying and Selling at Sphere Entertainment In related news, CEO James Lawrence Dolan bought 76,139 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $40.73 per share, with a total value of $3,101,141.47. Following the purchase, the chief executive officer now owns 520,039 shares of the company’s stock, valued at approximately $21,181,188.47. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other Sphere Entertainment news, CEO Andrea Greenberg sold 12,131 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $51.00, for a total transaction of $618,681.00. Following the completion of the sale, the chief executive officer now directly owns 76,650 shares in the company, valued at approximately $3,909,150. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Lawrence Dolan purchased 76,139 shares of the stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $40.73 per share, for a total transaction of $3,101,141.47. Following the completion of the acquisition, the chief executive officer now owns 520,039 shares of the company’s stock, valued at $21,181,188.47. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 245,669 shares of company stock worth $10,706,120. 24.46% of the stock is currently owned by company insiders. Sphere Entertainment Company Profile (Free Report) 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. Read More Five stocks we like better than Sphere Entertainment What Does a Stock Split Mean? MarketBeat Week in Review – 5/13 – 5/17 Learn Technical Analysis Skills to Master the Stock Market Take-Two Interactive Software Offers 2nd Chance for Investors High Flyers: 3 Natural Gas Stocks for March 2022 Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
