Dimensional Fund Advisors LP Buys 9,837 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Dimensional Fund Advisors LP increased its position in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,465,363 shares of the company's stock after purchasing an additional 9,837 shares during the period. Dimensional Fund Advisors LP owned approximately 4.14% of Sphere Entertainment worth $59,084,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Sphere Entertainment by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company's stock worth $112,689,000 after acquiring an additional 29,402 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Sphere Entertainment in the fourth quarter worth $2,656,000. OFI Invest Asset Management bought a new position in shares of Sphere Entertainment during the fourth quarter valued at $306,000. Entropy Technologies LP boosted its position in shares of Sphere Entertainment by 108.6% during the fourth quarter. Entropy Technologies LP now owns 13,816 shares of the company's stock valued at $557,000 after buying an additional 7,194 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Sphere Entertainment during the fourth quarter valued at $14,432,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business's stock in a transaction on Monday, March 10th. The shares were 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. Insiders own 25.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a report on Monday, March 3rd. The Goldman Sachs Group set a $36.00 price objective on Sphere Entertainment and gave the stock a "buy" rating in a report on Friday, April 18th. Guggenheim reissued a "buy" rating and issued a $69.00 target price on shares of Sphere Entertainment in a report on Wednesday, April 23rd. Finally, Morgan Stanley dropped 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, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.67.

Sphere Entertainment Price Performance

Shares of SPHR stock traded up $0.79 during mid-day trading on Tuesday, hitting $28.73. The company had a trading volume of 524,229 shares, compared to its average volume of 894,149. The company has a market capitalization of $1.03 billion, a P/E ratio of -2.74 and a beta of 1.51. The stock's 50 day moving average price is $30.75 and its 200-day moving average price is $38.28. Sphere Entertainment Co. has a 52-week low of $23.89 and a 52-week high of $50.88. 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 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.