Jump Financial LLC Grows Stock Holdings in Sphere Entertainment Co. (NYSE:SPHR)

Jump Financial LLC grew its stake in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 431.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,300 shares of the company's stock after acquiring an additional 45,700 shares during the quarter. Jump Financial LLC owned 0.16% of Sphere Entertainment worth $2,270,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SPHR. US Bancorp DE boosted its holdings in Sphere Entertainment by 3.8% in the 4th quarter. US Bancorp DE now owns 7,511 shares of the company's stock valued at $303,000 after purchasing an additional 276 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Sphere Entertainment by 5.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company's stock worth $401,000 after purchasing an additional 500 shares during the last quarter. Legal & General Group Plc lifted its holdings in Sphere Entertainment by 2.8% during the fourth quarter. Legal & General Group Plc now owns 26,678 shares of the company's stock worth $1,076,000 after acquiring an additional 720 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Sphere Entertainment by 10.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company's stock valued at $299,000 after purchasing an additional 721 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Sphere Entertainment by 826.1% during the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock valued at $34,000 after acquiring an additional 760 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Insider Transactions at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.08% of the stock is owned by insiders.

Sphere Entertainment Price Performance

NYSE:SPHR traded up $0.41 during midday trading on Thursday, hitting $25.71. 122,681 shares of the stock were exchanged, compared to its average volume of 788,016. 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 Co. has a one year low of $23.89 and a one year high of $50.88. The company has a market capitalization of $920.31 million, a price-to-earnings ratio of -2.45 and a beta of 1.48. The business has a 50-day moving average price of $33.64 and a two-hundred day moving average price of $39.36.

Analyst Upgrades and Downgrades

SPHR has been the subject of several recent research reports. Morgan Stanley lowered their price objective on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. 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, April 18th. Guggenheim reissued a "buy" rating and set a $69.00 price objective on shares of Sphere Entertainment in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective 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, Benchmark reiterated a "sell" rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sphere Entertainment presently has a consensus rating of "Hold" and an average target price of $46.75.

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.