Legato Capital Management LLC Invests $661,000 in Sphere Entertainment Co. $SPHR

by · The Markets Daily

Legato Capital Management LLC acquired a new stake in Sphere Entertainment Co. (NYSE:SPHR – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 10,633 shares of the company’s stock, valued at approximately $661,000.

Other large investors have also bought and sold shares of the company. Ariel Investments LLC raised its holdings in Sphere Entertainment by 12.7% during the 2nd quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock worth $296,790,000 after buying an additional 802,098 shares during the period. Holocene Advisors LP increased its position in shares of Sphere Entertainment by 23.2% during the second quarter. Holocene Advisors LP now owns 760,160 shares of the company’s stock worth $31,775,000 after acquiring an additional 142,997 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sphere Entertainment by 1.5% during the second quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock worth $27,175,000 after acquiring an additional 9,746 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after acquiring an additional 357,794 shares during the period. Finally, Gabelli Funds LLC lifted its position in Sphere Entertainment by 1.7% in the 2nd quarter. Gabelli Funds LLC now owns 563,139 shares of the company’s stock valued at $23,539,000 after acquiring an additional 9,500 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Sphere Entertainment Price Performance

Shares of NYSE SPHR opened at $115.81 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day moving average of $100.77 and a 200-day moving average of $78.86. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of -257.36 and a beta of 1.61. Sphere Entertainment Co. has a fifty-two week low of $23.89 and a fifty-two week high of $120.27.

Sphere Entertainment (NYSE:SPHR – Get Free Report) last released its earnings results on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The business had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. Sphere Entertainment’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.49) earnings per share. As a group, sell-side analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPHR has been the subject of a number of research reports. Wolfe Research reiterated an “outperform” rating and set a $105.00 target price on shares of Sphere Entertainment in a report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, January 21st. Seaport Research Partners upgraded Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $126.00 target price on shares of Sphere Entertainment in a research report on Friday, February 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $135.00 target price on shares of Sphere Entertainment in a research note on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.23.

Check Out Our Latest Stock Analysis on SPHR

About Sphere Entertainment

(Free Report)

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.

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