Capital Fund Management S.A. Buys 51,236 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Capital Fund Management S.A. lifted its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 468.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,184 shares of the company's stock after buying an additional 51,236 shares during the quarter. Capital Fund Management S.A. owned approximately 0.18% of Sphere Entertainment worth $2,507,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SPHR. Blue Trust Inc. boosted its holdings in shares of Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after purchasing an additional 912 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Sphere Entertainment in the 3rd quarter worth approximately $187,000. Tidal Investments LLC purchased a new stake in shares of Sphere Entertainment during the 3rd quarter valued at $225,000. Captrust Financial Advisors acquired a new stake in Sphere Entertainment in the third quarter worth about $227,000. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Sphere Entertainment by 18.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 5,793 shares of the company's stock valued at $234,000 after acquiring an additional 893 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Insider Buying and Selling at Sphere Entertainment

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $33.80, for a total value of $1,872,013.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 25.08% of the company's stock.

Analysts Set New Price Targets

SPHR has been the subject of several recent research reports. Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price target 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. Macquarie cut their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley lowered their target price on 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. Finally, The Goldman Sachs Group set a $36.00 price objective on shares of Sphere Entertainment and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $44.13.

Sphere Entertainment Stock Performance

Shares of SPHR traded up $0.17 during trading hours on Friday, reaching $25.28. 697,150 shares of the company traded hands, compared to its average volume of 794,117. Sphere Entertainment Co. has a 1-year low of $24.60 and a 1-year high of $50.88. The stock has a market cap of $904.70 million, a P/E ratio of -2.41 and a beta of 1.48. The stock's fifty day moving average is $35.00 and its 200 day moving average is $39.79. 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 Company 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.