Trexquant Investment LP Acquires Shares of 53,894 Sphere Entertainment Co. (NYSE:SPHR)

Trexquant Investment LP purchased 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 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,894 shares of the company's stock, valued at approximately $2,173,000. Trexquant Investment LP owned 0.15% of Sphere Entertainment at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Sphere Entertainment by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,792 shares of the company's stock valued at $9,710,000 after acquiring an additional 2,187 shares in the last quarter. FMR LLC raised its holdings in shares of Sphere Entertainment by 76.3% in 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 stake in shares of Sphere Entertainment during the 3rd quarter worth $227,000. Verition Fund Management LLC purchased a new stake in shares of Sphere Entertainment during the 3rd quarter worth $423,000. Finally, Centiva Capital LP acquired a new position in shares of Sphere Entertainment during the third quarter worth $382,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Insiders Place Their Bets

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through the SEC website. 25.08% of the stock is currently owned by insiders.

Sphere Entertainment Stock Performance

Shares of Sphere Entertainment stock traded down $0.27 during trading on Monday, reaching $26.82. The company's stock had a trading volume of 73,906 shares, compared to its average volume of 792,356. The company has a 50-day moving average price of $37.15 and a two-hundred day moving average price of $40.37. Sphere Entertainment Co. has a fifty-two week low of $24.77 and a fifty-two week high of $50.88. The firm has a market cap of $960.08 million, a PE ratio of -2.55 and a beta of 1.48. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPHR shares. Macquarie decreased their price target on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Morgan Stanley cut their target price on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. The Goldman Sachs Group upgraded shares of Sphere Entertainment to a "strong-buy" rating in a research note on Thursday, March 27th. Finally, Benchmark restated a "sell" rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.25.

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.