Sphere Entertainment Co. (NYSE:SPHR) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC decreased its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 28.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,070 shares of the company's stock after selling 7,100 shares during the quarter. Gotham Asset Management LLC owned about 0.05% of Sphere Entertainment worth $729,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in shares of Sphere Entertainment by 826.1% during the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock worth $34,000 after purchasing an additional 760 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Sphere Entertainment in the 4th quarter worth $40,000. Tower Research Capital LLC TRC raised its position in shares of 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. Blue Trust Inc. raised its position 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 worth $67,000 after buying an additional 912 shares during the period. Finally, Concurrent Investment Advisors LLC raised its position in shares of Sphere Entertainment by 18.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 5,793 shares of the company's stock worth $234,000 after buying an additional 893 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Susquehanna assumed coverage on Sphere Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $37.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Sphere Entertainment from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Wednesday. Guggenheim increased their target price on Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. The Goldman Sachs Group set a $36.00 target price on Sphere Entertainment and gave the stock a "buy" rating in a research report on Friday, April 18th. Finally, Macquarie cut their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $45.78.

Insider Transactions at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.08% of the company's stock.

Sphere Entertainment Stock Down 0.4%

NYSE:SPHR traded down $0.14 during mid-day trading on Friday, hitting $37.45. The company had a trading volume of 454,457 shares, compared to its average volume of 812,355. The business has a fifty day simple moving average of $30.82 and a 200-day simple moving average of $37.55. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year high of $50.88. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.57 and a beta of 1.51.

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

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.