Quantbot Technologies LP Has $2.74 Million Holdings in Sphere Entertainment Co. (NYSE:SPHR)

Quantbot Technologies LP boosted its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 227.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,829 shares of the company's stock after purchasing an additional 47,098 shares during the quarter. Quantbot Technologies LP owned about 0.19% of Sphere Entertainment worth $2,735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Sphere Entertainment by 149.5% during the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after buying an additional 912 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Sphere Entertainment in the 3rd quarter valued at $187,000. ArrowMark Colorado Holdings LLC bought a new position in shares of Sphere Entertainment during the 3rd quarter worth about $219,000. Tidal Investments LLC bought a new position in shares of Sphere Entertainment during the 3rd quarter worth about $225,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Sphere Entertainment during the 3rd quarter valued at about $227,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.08% of the stock is owned by insiders.

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Sphere Entertainment Price Performance

SPHR stock traded up $0.70 during midday trading on Wednesday, reaching $33.82. 1,139,919 shares of the company's stock traded hands, compared to its average volume of 730,315. The company has a 50-day simple moving average of $41.21 and a two-hundred day simple moving average of $41.57. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a 1-year low of $30.62 and a 1-year high of $50.88. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -3.22 and a beta of 1.39.

Analyst Upgrades and Downgrades

SPHR has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target 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. Benchmark restated a "sell" rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. Finally, Macquarie lowered their price target 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $46.75.

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.