Concurrent Investment Advisors LLC Has $234,000 Stock Holdings in Sphere Entertainment Co. (NYSE:SPHR)

Concurrent Investment Advisors LLC increased its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 18.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,793 shares of the company’s stock after acquiring an additional 893 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Sphere Entertainment were worth $234,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after buying an additional 912 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Sphere Entertainment by 46.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock valued at $111,000 after acquiring an additional 810 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Sphere Entertainment in the third quarter worth about $187,000. ArrowMark Colorado Holdings LLC bought a new stake in shares of Sphere Entertainment in the third quarter worth about $219,000. Finally, Tidal Investments LLC acquired a new stake in shares of Sphere Entertainment during the third quarter worth about $225,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Shares of NYSE SPHR opened at $42.46 on Wednesday. The business’s 50 day moving average is $43.21 and its 200-day moving average is $43.18. The firm has a market cap of $1.50 billion, a P/E ratio of -4.04 and a beta of 1.39. Sphere Entertainment Co. has a 1-year low of $32.10 and a 1-year high of $51.83. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Guggenheim dropped their target price on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Macquarie lowered their price objective on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Morgan Stanley cut their price objective on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sphere Entertainment presently has a consensus rating of “Hold” and a consensus target price of $47.75.

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.