Sphere Entertainment Co. (NYSE:SPHR) Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 68.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,026 shares of the company's stock after selling 8,856 shares during the period. AlphaQuest LLC's holdings in Sphere Entertainment were worth $162,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Clearline Capital LP purchased a new position in shares of Sphere Entertainment in the 3rd quarter worth approximately $5,607,000. JPMorgan Chase & Co. increased its position in shares of Sphere Entertainment by 140.0% during the third quarter. JPMorgan Chase & Co. now owns 150,955 shares of the company's stock worth $6,669,000 after purchasing an additional 88,065 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Sphere Entertainment by 235.4% during the 3rd quarter. Verition Fund Management LLC now owns 109,184 shares of the company's stock valued at $4,824,000 after purchasing an additional 76,635 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Sphere Entertainment in the 4th quarter worth $2,656,000. Finally, Carnegie Investment Counsel grew its stake in Sphere Entertainment by 35.1% during the 4th quarter. Carnegie Investment Counsel now owns 225,860 shares of the company's stock worth $9,107,000 after buying an additional 58,640 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.08% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several brokerages have weighed in on SPHR. Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, Macquarie decreased their price target on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Sphere Entertainment currently has a consensus rating of "Hold" and a consensus target price of $46.75.

Sphere Entertainment Stock Performance

NYSE SPHR traded down $0.18 on Friday, reaching $32.05. 530,645 shares of the company's stock traded hands, compared to its average volume of 726,916. The stock has a 50 day moving average price of $41.76 and a 200-day moving average price of $41.86. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -3.05 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 $30.62 and a fifty-two week high of $50.88.

Sphere Entertainment 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.