Barclays PLC raised its position in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 122.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 291,017 shares of the company's stock after buying an additional 160,304 shares during the period. Barclays PLC owned about 0.82% of Sphere Entertainment worth $11,734,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp boosted its stake in Sphere Entertainment by 1.6% in the third quarter. State Street Corp now owns 632,067 shares of the company's stock valued at $27,925,000 after acquiring an additional 9,749 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Sphere Entertainment by 2.7% in the third quarter. Geode Capital Management LLC now owns 938,463 shares of the company's stock valued at $39,921,000 after purchasing an additional 24,772 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sphere Entertainment in the 3rd quarter worth approximately $242,000. Tidal Investments LLC purchased a new position in shares of Sphere Entertainment in the third quarter valued at $225,000. Finally, Principal Financial Group Inc. acquired a new position in Sphere Entertainment during the third quarter worth about $788,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently issued reports on SPHR. JPMorgan Chase & Co. decreased their target price on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. Guggenheim reissued a "buy" rating and issued a $69.00 target price on shares of Sphere Entertainment in a research note on Wednesday. Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. Macquarie lowered their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Morgan Stanley dropped their price target on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $46.75.
Read Our Latest Report on SPHR
Sphere Entertainment Stock Performance
Shares of Sphere Entertainment stock traded up $2.54 on Friday, reaching $29.01. The stock had a trading volume of 2,466,284 shares, compared to its average volume of 798,820. The business's 50-day moving average price is $33.21 and its two-hundred day moving average price is $39.23. Sphere Entertainment Co. has a fifty-two week low of $23.89 and a fifty-two week high of $50.88. The stock has a market cap of $1.04 billion, a P/E ratio of -2.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56.
Insider Transactions at Sphere Entertainment
In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $33.80, for a total value of $1,872,013.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 25.08% of the stock is owned by insiders.
Sphere Entertainment Profile
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Free Report)
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.
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