Renaissance Technologies LLC Sells 186,021 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Renaissance Technologies LLC cut its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 54.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 158,314 shares of the company's stock after selling 186,021 shares during the quarter. Renaissance Technologies LLC owned 0.45% of Sphere Entertainment worth $6,383,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Sphere Entertainment by 0.4% in the third quarter. State Street Corp now owns 896,795 shares of the company's stock valued at $38,141,000 after purchasing an additional 3,463 shares in the last quarter. Barclays PLC lifted its holdings in shares of Sphere Entertainment by 295.6% during the third quarter. Barclays PLC now owns 66,045 shares of the company's stock worth $2,809,000 after buying an additional 49,351 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sphere Entertainment by 2.7% in the third quarter. Geode Capital Management LLC now owns 938,463 shares of the company's stock valued at $39,921,000 after acquiring an additional 24,772 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Sphere Entertainment during the third quarter worth about $242,000. Finally, Tidal Investments LLC acquired a new position in shares of Sphere Entertainment during the third quarter worth $225,000. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling at Sphere Entertainment

In other Sphere Entertainment news, 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 stock was sold at an average price of $33.80, for a total transaction of $1,872,013.00. The sale 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.

Analyst Ratings Changes

Several brokerages recently issued reports on SPHR. JPMorgan Chase & Co. lowered their target price on Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group set a $36.00 price objective on Sphere Entertainment and gave the stock a "buy" rating in a research note on Friday, April 18th. Guggenheim reissued a "buy" rating and set a $69.00 target price on shares of Sphere Entertainment in a research report on Wednesday. Macquarie dropped their price target on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, Morgan Stanley lowered their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of "Hold" and an average target price of $46.75.

Sphere Entertainment Stock Up 1.6 %

Shares of NYSE SPHR traded up $0.40 during midday trading on Thursday, hitting $25.70. 46,345 shares of the stock traded hands, compared to its average volume of 787,721. Sphere Entertainment Co. has a one year low of $23.89 and a one year high of $50.88. The business has a 50 day moving average price of $33.64 and a two-hundred day moving average price of $39.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $919.74 million, a PE ratio of -2.45 and a beta of 1.48.

About Sphere Entertainment

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.