Sphere Entertainment Co. (NYSE:SPHR) Shares Sold by Sender Co & Partners Inc.

Sender Co & Partners Inc. cut its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 79.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,522 shares of the company's stock after selling 32,224 shares during the period. Sender Co & Partners Inc.'s holdings in Sphere Entertainment were worth $377,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its position in shares of Sphere Entertainment by 1.6% during the third quarter. State Street Corp now owns 632,067 shares of the company's stock valued at $27,925,000 after acquiring an additional 9,749 shares during the last quarter. Systematic Financial Management LP increased its holdings in Sphere Entertainment by 3.0% in the 3rd quarter. Systematic Financial Management LP now owns 371,164 shares of the company's stock valued at $16,398,000 after purchasing an additional 10,862 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Sphere Entertainment in the third quarter valued at approximately $438,000. Clearline Capital LP acquired a new position in Sphere Entertainment during the third quarter worth $5,607,000. Finally, Verition Fund Management LLC grew its stake in shares of Sphere Entertainment by 235.4% in the third quarter. Verition Fund Management LLC now owns 109,184 shares of the company's stock valued at $4,824,000 after buying an additional 76,635 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Sphere Entertainment Stock Performance

NYSE:SPHR traded down $0.92 during trading hours on Tuesday, reaching $36.87. 438,772 shares of the company's stock were exchanged, compared to its average volume of 746,575. Sphere Entertainment Co. has a 1-year low of $29.70 and a 1-year high of $51.83. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.60 and a beta of 1.38. The company has a 50-day moving average of $42.90 and a 200 day moving average of $41.60.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($2.95) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $227.90 million during the quarter, compared to the consensus estimate of $229.86 million. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The business's quarterly revenue was up 93.1% compared to the same quarter last year. Research analysts anticipate that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Analyst Ratings Changes

SPHR has been the topic of a number of analyst reports. Bank of America reduced their price target on Sphere Entertainment from $45.00 to $43.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 17th. Benchmark reiterated a "sell" rating and issued a $40.00 price target on shares of Sphere Entertainment in a research note on Tuesday, September 3rd. Macquarie dropped their price objective on shares of Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Wolfe Research raised shares of Sphere Entertainment from a "peer perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a research report on Wednesday, October 2nd. Finally, Guggenheim increased their target price on Sphere Entertainment from $58.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Sphere Entertainment has an average rating of "Hold" and an average price target of $50.43.

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.