F. Dolan 2009 Revocabl Charles Sells 55,385 Shares of Sphere Entertainment Co. (NYSE:SPHR) Stock

Sphere Entertainment Co. (NYSE:SPHR) insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm’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 legal filing with the SEC, which is accessible through this hyperlink.

Sphere Entertainment Stock Up 0.9 %

SPHR opened at $31.93 on Thursday. 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 12 month low of $30.78 and a 12 month high of $50.88. The stock has a market capitalization of $1.13 billion, a P/E ratio of -3.04 and a beta of 1.39. The business has a 50 day simple moving average of $42.96 and a 200-day simple moving average of $42.50.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SPHR shares. JPMorgan Chase & Co. lowered their price objective on shares of Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Macquarie lowered their price target on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.75.

Institutional Investors Weigh In On Sphere Entertainment

Several institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake 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 purchasing an additional 47,635 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Sphere Entertainment during the 3rd quarter valued at approximately $788,000. Entropy Technologies LP boosted its stake in shares of Sphere Entertainment by 108.6% during the 4th quarter. Entropy Technologies LP now owns 13,816 shares of the company’s stock worth $557,000 after acquiring an additional 7,194 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Sphere Entertainment by 101.6% in the 4th 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 period. Finally, Zacks Investment Management increased its stake in Sphere Entertainment by 15.3% in the 3rd 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 currently owned by hedge funds and other institutional investors.

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.