Quent Capital LLC Sells 4,000 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Quent Capital LLC trimmed its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 85.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 658 shares of the company’s stock after selling 4,000 shares during the period. Quent Capital LLC’s holdings in Sphere Entertainment were worth $27,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Sphere Entertainment by 149.5% during the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after acquiring an additional 912 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 valued at $111,000 after acquiring an additional 810 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Sphere Entertainment during the third quarter valued at about $187,000. Concurrent Investment Advisors LLC bought a new position in shares of Sphere Entertainment during the third quarter valued at about $216,000. Finally, Tidal Investments LLC bought a new position in shares of Sphere Entertainment during the third quarter valued at about $225,000. 92.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPHR has been the topic of several research analyst reports. Guggenheim reduced their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Macquarie reduced 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 report on Wednesday, November 13th. Finally, Morgan Stanley reduced their price target on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.75.

Sphere Entertainment Price Performance

Shares of SPHR opened at $47.35 on Friday. The stock has a market cap of $1.67 billion, a PE ratio of -4.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment Co. has a fifty-two week low of $32.10 and a fifty-two week high of $51.83. The firm’s 50-day simple moving average is $41.61 and its two-hundred day simple moving average is $42.80.

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 analysts’ consensus estimates of ($3.32) by $0.37. The business had revenue of $227.90 million for the quarter, compared to analysts’ expectations of $229.86 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The business’s revenue was up 93.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. Analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

About Sphere Entertainment

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.