12,183 Shares in Sphere Entertainment Co. (NYSE:SPHR) Bought by TCW Group Inc.

TCW Group Inc. bought a new position in Sphere Entertainment Co. (NYSE:SPHR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,183 shares of the company’s stock, valued at approximately $538,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Sphere Entertainment by 1.2% during the third quarter. Victory Capital Management Inc. now owns 22,438 shares of the company’s stock valued at $991,000 after buying an additional 271 shares during the period. Covestor Ltd raised its stake in shares of Sphere Entertainment by 3.5% during the 3rd quarter. Covestor Ltd now owns 9,077 shares of the company’s stock worth $401,000 after purchasing an additional 305 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Sphere Entertainment by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,177 shares of the company’s stock valued at $462,000 after buying an additional 359 shares in the last quarter. Quent Capital LLC grew 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 buying an additional 624 shares in the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of Sphere Entertainment during the 2nd quarter worth $27,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Guggenheim raised their price objective on Sphere Entertainment from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Macquarie cut their target price on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Bank of America lowered their price target on Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised Sphere Entertainment from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $37.00 to $57.00 in a research report on Friday, August 16th. Finally, Wolfe Research raised Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sphere Entertainment currently has an average rating of “Hold” and a consensus target price of $50.43.

Sphere Entertainment Stock Performance

NYSE SPHR opened at $38.45 on Friday. Sphere Entertainment Co. has a twelve month low of $29.70 and a twelve month high of $51.83. The firm has a 50-day simple moving average of $42.57 and a 200 day simple moving average of $41.59. 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 (NYSE:SPHR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping the consensus estimate of ($3.32) by $0.37. The company had revenue of $227.90 million for the quarter, compared to analyst estimates of $229.86 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. Sphere Entertainment’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 EPS. As a group, research analysts forecast that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal 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.