Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Sphere Entertainment Price Performance
Sphere Entertainment stock traded up $0.29 during mid-day trading on Wednesday, reaching $31.93. The company had a trading volume of 1,470,789 shares, compared to its average volume of 815,044. The stock's 50-day simple moving average is $43.13 and its 200-day simple moving average is $42.57. The company has a market capitalization of $1.13 billion, a P/E ratio of -3.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. Sphere Entertainment Co. has a 1 year low of $30.78 and a 1 year high of $50.88.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Macquarie reduced their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday. Benchmark reaffirmed a "sell" rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Finally, Guggenheim cut their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sphere Entertainment currently has an average rating of "Hold" and an average price target of $46.75.
Get Our Latest Stock Analysis on Sphere Entertainment
Hedge Funds Weigh In On Sphere Entertainment
Several hedge funds and other institutional investors have recently bought and sold shares of SPHR. FMR LLC increased its position in shares of Sphere Entertainment by 76.3% in the third quarter. FMR LLC now owns 110,035 shares of the company's stock valued at $4,680,000 after buying an additional 47,635 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Sphere Entertainment in the 3rd quarter valued at about $788,000. Entropy Technologies LP increased its holdings in Sphere Entertainment by 108.6% during the 4th quarter. Entropy Technologies LP now owns 13,816 shares of the company's stock valued at $557,000 after acquiring an additional 7,194 shares in the last quarter. SG Americas Securities LLC raised its position in Sphere Entertainment by 101.6% during the fourth quarter. SG Americas Securities LLC now owns 11,504 shares of the company's stock worth $464,000 after acquiring an additional 5,799 shares during the last quarter. Finally, Zacks Investment Management lifted its holdings in shares of Sphere Entertainment by 15.3% in the third quarter. Zacks Investment Management now owns 111,687 shares of the company's stock valued at $4,750,000 after purchasing an additional 14,812 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.
Sphere Entertainment Company Profile
(
Get 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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