Landscape Capital Management L.L.C. acquired a new position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 177,000 shares of the company's stock, valued at approximately $7,137,000. Sphere Entertainment makes up about 0.8% of Landscape Capital Management L.L.C.'s portfolio, making the stock its 11th largest position. Landscape Capital Management L.L.C. owned approximately 0.50% of Sphere Entertainment at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Sphere Entertainment during the third quarter valued at $320,000. Charles Schwab Investment Management Inc. increased its stake in Sphere Entertainment by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,300 shares of the company's stock valued at $14,218,000 after purchasing an additional 5,575 shares in the last quarter. FMR LLC increased its stake in Sphere Entertainment by 76.3% during the 3rd quarter. FMR LLC now owns 110,035 shares of the company's stock valued at $4,680,000 after purchasing an additional 47,635 shares in the last quarter. Captrust Financial Advisors purchased a new position in Sphere Entertainment in the third quarter worth about $227,000. Finally, Verition Fund Management LLC bought a new position in shares of Sphere Entertainment in the third quarter worth approximately $423,000. Hedge funds and other institutional investors own 92.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SPHR. Macquarie decreased their price objective on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. The Goldman Sachs Group raised Sphere Entertainment to a "strong-buy" rating in a research report on Thursday, March 27th. Finally, Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $46.75.
Check Out Our Latest Report on SPHR
Sphere Entertainment Stock Performance
Shares of SPHR traded down $0.57 on Monday, reaching $26.15. The company's stock had a trading volume of 358,938 shares, compared to its average volume of 779,512. The stock's 50 day simple moving average is $39.63 and its two-hundred day simple moving average is $41.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $935.99 million, a P/E ratio of -2.48 and a beta of 1.48. Sphere Entertainment Co. has a 12-month low of $25.08 and a 12-month high of $50.88.
Insider Transactions at Sphere Entertainment
In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 25.08% of the stock is currently owned by company insiders.
About Sphere Entertainment
(
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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