New York State Common Retirement Fund Has $1.29 Million Position in Sphere Entertainment Co. $SPHR

New York State Common Retirement Fund boosted its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 146.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,784 shares of the company’s stock after purchasing an additional 12,338 shares during the period. New York State Common Retirement Fund owned about 0.06% of Sphere Entertainment worth $1,291,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new stake in shares of Sphere Entertainment during the 2nd quarter worth about $209,000. Fox Run Management L.L.C. acquired a new position in Sphere Entertainment in the second quarter worth approximately $609,000. Geode Capital Management LLC increased its holdings in Sphere Entertainment by 1.5% in the second quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock worth $27,175,000 after buying an additional 9,746 shares during the last quarter. Quantum Private Wealth LLC bought a new position in Sphere Entertainment during the second quarter valued at approximately $238,000. Finally, SG Americas Securities LLC acquired a new stake in Sphere Entertainment in the third quarter valued at approximately $2,937,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Performance

Shares of SPHR opened at $94.70 on Tuesday. The company has a market capitalization of $3.34 billion, a PE ratio of -18.32 and a beta of 1.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.96 and a quick ratio of 0.96. Sphere Entertainment Co. has a one year low of $23.89 and a one year high of $101.89. The company’s fifty day moving average price is $92.43 and its 200 day moving average price is $70.59.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SPHR shares. Wolfe Research restated an “outperform” rating and set a $105.00 price target on shares of Sphere Entertainment in a research note on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a report on Wednesday, January 21st. National Bankshares set a $136.00 target price on shares of Sphere Entertainment in a research report on Thursday, January 22nd. Craig Hallum restated a “buy” rating and set a $100.00 target price on shares of Sphere Entertainment in a report on Thursday, December 18th. Finally, Seaport Research Partners raised Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.38.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.