Sphere Entertainment (SPHR)

Sphere Entertainment Co. • Empire 3333, LLC • Empire 3401, LLC • Fly Shades, LLC • Holoplot GmbH • Holoplot Inc. • Madison Square Garden Investments, LLC • MSG Immersive Ventures, LLC • MSG Las Vegas, LLC • MSG LV Construction, LLC ...

SPHR stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Average target

$78.33

Low target

$68.00

High target

$91.00

Guggenheim

Maintains

Buy

$76.00

10 Sep 25

Latest filings (excl ownership)

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8-K

Departure of Directors or Certain Officers

4 Nov 25

Sphere Entertainment Co. Reports Third Quarter 2025 Results

4 Nov 25

8-K

Departure of Directors or Certain Officers

26 Sep 25

8-K

Departure of Directors or Certain Officers

11 Aug 25

Sphere Entertainment Co. Reports Second Quarter 2025 Results

11 Aug 25

8-K

Regulation FD Disclosure

28 Jul 25

8-K

Entry into a Material Definitive Agreement

27 Jun 25

8-K

Material Modifications to Rights of Security Holders

5 Jun 25

Transcripts

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SPHR

Earnings call transcript

2025 Q3

4 Nov 25

SPHR

Earnings call transcript

2025 Q2

11 Aug 25

SPHR

Earnings call transcript

2025 Q1

8 May 25

SPHR

Earnings call transcript

2025 Q2

3 Mar 25

SPHR

Earnings call transcript

2025 Q1

12 Nov 24

SPHR

Earnings call transcript

2024 Q4

14 Aug 24

SPHR

Earnings call transcript

2024 Q3

10 May 24

SPHR

Earnings call transcript

2024 Q2

5 Feb 24

SPHR

Earnings call transcript

2024 Q1

8 Nov 23

SPHR

Earnings call transcript

2023 Q4

22 Aug 23

Latest ownership filings

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SCHEDULE 13G/A

Beneficial ownership report (amended)

5 Dec 25

Christopher J. Winters

26 Nov 25

144

Notice of proposed sale of securities

25 Nov 25

SCHEDULE 13G/A

Beneficial ownership report (amended)

14 Nov 25

SCHEDULE 13G/A

Beneficial ownership report (amended)

14 Nov 25

144

Notice of proposed sale of securities

12 Nov 25

144

Notice of proposed sale of securities

7 Nov 25

SCHEDULE 13G

Beneficial ownership report

7 Nov 25

144

Notice of proposed sale of securities

4 Nov 25

Ryan Thomas Dolan

21 Oct 25

Financial summary

Financial statements Chart SPHR financial data

Quarter (USD)	Sep 25	Jun 25	Mar 25	Sep 24
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Jun 24	Jun 23	Jun 22	Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	398.25 mm	398.25 mm	398.25 mm	398.25 mm	398.25 mm	398.25 mm
Cash burn (monthly)	(no burn)	14.58 mm	45.57 mm	8.62 mm	(no burn)	(no burn)
Cash used (since last report)	n/a	34.25 mm	107.04 mm	20.26 mm	n/a	n/a
Cash remaining	n/a	364.00 mm	291.21 mm	378.00 mm	n/a	n/a
Runway (months of cash)	n/a	25.0	6.4	43.8	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2024

SPHR institutional ownership history Ownership history

97.0% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	221	220	+0.5%
Opened positions	35	50	-30.0%
Closed positions	34	40	-15.0%
Increased positions	74	57	+29.8%
Reduced positions	64	64	–

13F shares	Current	Prev Q	Change
Total value	1.35 tn	1.40 tn	-3.6%
Total shares	35.26 mm	33.23 mm	+6.1%
Total puts	1.35 mm	1.68 mm	-19.5%
Total calls	4.52 mm	2.07 mm	+118.2%
Total put/call ratio	0.3	0.8	-63.1%

Largest owners	Shares	Value	Change
Ariel Investments	5.74 mm	$231.61 bn	+7.4%
Jericho Capital Asset Management	2.81 mm	$113.12 bn	0.0%
Vanguard	2.79 mm	$112.69 bn	+1.1%
BlackRock	2.19 mm	$88.15 bn	+8.6%
Dimensional Fund Advisors	1.47 mm	$59.08 bn	+0.7%
MS Morgan Stanley	1.27 mm	$51.25 bn	+40.4%
Point72 Asset Management	1.26 mm	$50.91 bn	+54.8%
Citadel Advisors	1.22 mm	$49.36 bn	+4.7%
Dolan Charles F	1.05 mm	$48.13 mm	0.0%
Steadfast Capital Management	926.10 k	$37.34 bn	+183.8%

Largest transactions	Shares	Bought/sold	Change
Steadfast Capital Management	926.10 k	+599.80 k	+183.8%
Walleye Capital	209.44 k	-579.07 k	-73.4%
Point72 Asset Management	1.26 mm	+447.26 k	+54.8%
BNP Paribas Arbitrage	394.36 k	+394.36 k	NEW
Ariel Investments	5.74 mm	+394.05 k	+7.4%
Balyasny Asset Management	709.33 k	-366.98 k	-34.1%
MS Morgan Stanley	1.27 mm	+365.71 k	+40.4%
Norges Bank	357.94 k	+357.94 k	NEW
Honeycomb Asset Management	125.00 k	-350.00 k	-73.7%
Wealthfront Advisers	300.71 k	+300.71 k	NEW

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

SPHR insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
17 Oct 25	Dolan Ryan Thomas	RSU Class A Common Stock	Grant	Acquire A	No	No	0	716	0.00	2,728
15 Sep 25	James Lawrence Dolan	Class A Common Stock	Payment of exercise	Dispose F	No	No	60.29	48,493	2.92 mm	978,468
15 Sep 25	James Lawrence Dolan	Class A Common Stock	Option exercise	Acquire M	No	No	0	98,750	0.00	1,026,961
15 Sep 25	James Lawrence Dolan	Class A Common Stock	Payment of exercise	Dispose F	No	No	60.29	30,534	1.84 mm	928,211
15 Sep 25	James Lawrence Dolan	Class A Common Stock	Option exercise	Acquire M	No	No	0	26,896	0.00	958,745
15 Sep 25	James Lawrence Dolan	Class A Common Stock	Option exercise	Acquire M	No	No	0	32,917	0.00	931,849
15 Sep 25	James Lawrence Dolan	RSU Class A Common Stock	Option exercise	Dispose M	No	No	0	98,750	0.00	0
15 Sep 25	James Lawrence Dolan	RSU Class A Common Stock	Option exercise	Dispose M	No	No	0	26,896	0.00	26,897
15 Sep 25	James Lawrence Dolan	RSU Class A Common Stock	Option exercise	Dispose M	No	No	0	32,917	0.00	0
15 Sep 25	Gregory Brunner	Class A Common Stock	Payment of exercise	Dispose F	No	No	60.29	757	45.64 k	2,292