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

Sphere Entertainment Co. (NYSE:SPHR) insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company’s stock in a transaction 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 legal filing with the SEC, which is accessible through this link.

Sphere Entertainment Stock Performance

SPHR stock traded up $0.29 during 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 company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment Co. has a twelve month low of $30.78 and a twelve month high of $50.88. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -3.04 and a beta of 1.39. The firm has a 50-day simple moving average of $43.13 and a 200-day simple moving average of $42.57.

Hedge Funds Weigh In On Sphere Entertainment

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Sphere Entertainment by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 22,438 shares of the company’s stock valued at $991,000 after purchasing an additional 271 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Sphere Entertainment by 3.8% during the fourth quarter. US Bancorp DE now owns 7,511 shares of the company’s stock worth $303,000 after purchasing an additional 276 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of Sphere Entertainment by 5.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company’s stock worth $401,000 after purchasing an additional 500 shares during the period. Boyar Asset Management Inc. boosted its position in Sphere Entertainment by 1.2% in the fourth quarter. Boyar Asset Management Inc. now owns 44,457 shares of the company’s stock valued at $1,793,000 after buying an additional 542 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Sphere Entertainment by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock worth $53,000 after buying an additional 681 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SPHR. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Guggenheim reduced their price objective on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Macquarie decreased 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 report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.75.

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.