Man Group plc Makes New Investment in Sphere Entertainment Co. (NYSE:SPHR)

Man Group plc bought a new position in Sphere Entertainment Co. (NYSE:SPHR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 38,488 shares of the company's stock, valued at approximately $1,552,000. Man Group plc owned 0.11% of Sphere Entertainment as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Ariel Investments LLC raised its holdings in Sphere Entertainment by 7.4% in the 4th quarter. Ariel Investments LLC now owns 5,744,192 shares of the company's stock worth $231,606,000 after purchasing an additional 394,050 shares during the period. 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 purchasing an additional 29,402 shares during the period. Dimensional Fund Advisors LP raised its holdings in Sphere Entertainment by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,465,363 shares of the company's stock worth $59,084,000 after purchasing an additional 9,837 shares during the period. Geode Capital Management LLC raised its holdings in Sphere Entertainment by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 617,437 shares of the company's stock worth $24,901,000 after purchasing an additional 4,429 shares during the period. Finally, Northern Trust Corp raised its holdings in Sphere Entertainment by 5.9% in the 4th quarter. Northern Trust Corp now owns 370,946 shares of the company's stock worth $14,957,000 after purchasing an additional 20,613 shares during the period. 92.03% of the stock is owned by institutional investors.

Sphere Entertainment Trading Down 0.3%

SPHR traded down $0.13 on Thursday, hitting $37.71. The company had a trading volume of 73,760 shares, compared to its average volume of 808,064. The company has a market cap of $1.35 billion, a PE ratio of -3.59 and a beta of 1.51. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The business's fifty day simple moving average is $31.16 and its 200 day simple moving average is $37.47.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.21. The company had revenue of $280.57 million during the quarter, compared to analyst estimates of $285.01 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The firm's revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the business posted ($1.33) earnings per share. Equities research analysts expect that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPHR shares. Morgan Stanley cut their price target on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group set a $36.00 price target on Sphere Entertainment and gave the stock a "buy" rating in a research note on Friday, April 18th. Guggenheim increased their price target on Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their price target on Sphere Entertainment from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, Macquarie cut their price target on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $45.78.

Insider Buying and Selling

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.08% of the stock is currently owned by company insiders.

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.