Sphere Entertainment Co. (NYSE:SPHR) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 67.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,600 shares of the company's stock after selling 13,522 shares during the quarter. GSA Capital Partners LLP's holdings in Sphere Entertainment were worth $292,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Entropy Technologies LP purchased a new stake in Sphere Entertainment in the 3rd quarter worth $293,000. Covestor Ltd grew its position in shares of Sphere Entertainment by 3.5% during the third quarter. Covestor Ltd now owns 9,077 shares of the company's stock worth $401,000 after purchasing an additional 305 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in Sphere Entertainment by 1.1% in the 3rd quarter. Washington Trust Advisors Inc. now owns 198,774 shares of the company's stock worth $8,782,000 after purchasing an additional 2,102 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Sphere Entertainment in the 3rd quarter worth approximately $216,000. Finally, Radnor Capital Management LLC grew its holdings in Sphere Entertainment by 3.6% during the 3rd quarter. Radnor Capital Management LLC now owns 23,670 shares of the company's stock valued at $1,046,000 after buying an additional 825 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Macquarie dropped their target price on shares of Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Bank of America decreased their price target on Sphere Entertainment from $45.00 to $43.00 and set a "neutral" rating for the company in a research note on Tuesday, September 17th. Benchmark reissued a "sell" rating and issued a $40.00 price objective on shares of Sphere Entertainment in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. raised Sphere Entertainment from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $37.00 to $57.00 in a research report on Friday, August 16th. Finally, Guggenheim lifted their price objective on shares of Sphere Entertainment from $58.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $50.43.

Sphere Entertainment Trading Down 1.8 %

Shares of Sphere Entertainment stock traded down $0.75 on Friday, reaching $40.29. The company had a trading volume of 1,082,746 shares, compared to its average volume of 777,373. Sphere Entertainment Co. has a 52-week low of $27.02 and a 52-week high of $51.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The firm's 50 day moving average price is $43.35 and its two-hundred day moving average price is $41.42. The firm has a market cap of $1.42 billion, a PE ratio of -3.84 and a beta of 1.41.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, beating analysts' consensus estimates of ($3.32) by $0.37. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The company had revenue of $227.90 million for the quarter, compared to the consensus estimate of $229.86 million. During the same period in the prior year, the firm posted $1.90 EPS. The company's quarterly revenue was up 93.1% compared to the same quarter last year. Sell-side analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

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.