Barclays PLC Sells 233,516 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Barclays PLC decreased its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 64.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,713 shares of the company's stock after selling 233,516 shares during the period. Barclays PLC owned 0.37% of Sphere Entertainment worth $5,775,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in Sphere Entertainment during the second quarter valued at approximately $27,000. Summit Securities Group LLC bought a new stake in Sphere Entertainment during the 2nd quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 purchasing an additional 810 shares in the last quarter. Quent Capital LLC boosted its position in shares of Sphere Entertainment by 15.5% in the third quarter. Quent Capital LLC now owns 4,658 shares of the company's stock worth $206,000 after purchasing an additional 624 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Sphere Entertainment in the third quarter worth $216,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Sphere Entertainment Price Performance

Shares of SPHR stock traded up $1.91 on Friday, reaching $38.70. The company's stock had a trading volume of 1,116,229 shares, compared to its average volume of 751,235. The stock's fifty day simple moving average is $41.68 and its 200-day simple moving average is $41.63. Sphere Entertainment Co. has a 1 year low of $29.70 and a 1 year high of $51.83. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -3.69 and a beta of 1.38. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, topping analysts' consensus estimates of ($3.32) by $0.37. The business had revenue of $227.90 million during 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% on a year-over-year basis. During the same period last year, the company posted $1.90 EPS. Analysts forecast that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on SPHR. Guggenheim upped their target price on shares of Sphere Entertainment from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Wolfe Research upgraded Sphere Entertainment from a "peer perform" rating to an "outperform" rating and set a $60.00 target price for the company in a research report on Wednesday, October 2nd. Macquarie lowered their price target on Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. Benchmark reaffirmed a "sell" rating and set a $40.00 price objective on shares of Sphere Entertainment in a report on Tuesday, September 3rd. Finally, Bank of America dropped their target price on shares of Sphere Entertainment from $45.00 to $43.00 and set a "neutral" rating for the company in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.43.

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.