Gotham Asset Management LLC Has $729,000 Stock Holdings in Sphere Entertainment Co. (NYSE:SPHR)

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

A number of other institutional investors also recently modified their holdings of the business. Ariel Investments LLC boosted its position in Sphere Entertainment by 7.4% in the fourth quarter. Ariel Investments LLC now owns 5,744,192 shares of the company's stock valued at $231,606,000 after buying an additional 394,050 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sphere Entertainment by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company's stock valued at $112,689,000 after acquiring an additional 29,402 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Sphere Entertainment by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,465,363 shares of the company's stock worth $59,084,000 after acquiring an additional 9,837 shares during the last quarter. Geode Capital Management LLC increased 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 in the last quarter. Finally, Northern Trust Corp raised its position in Sphere Entertainment by 5.9% in the fourth quarter. Northern Trust Corp now owns 370,946 shares of the company's stock valued at $14,957,000 after purchasing an additional 20,613 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Sphere Entertainment Trading Up 3.4%

NYSE:SPHR opened at $38.80 on Monday. 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 quick ratio of 0.56 and a current ratio of 0.56. The firm's fifty day moving average is $30.20 and its 200-day moving average is $37.68. The firm has a market cap of $1.39 billion, a P/E ratio of -3.70 and a beta of 1.51.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SPHR shares. Susquehanna assumed coverage on Sphere Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $37.00 price target on the stock. Morgan Stanley cut their target price on shares of 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. JPMorgan Chase & Co. decreased 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 report on Tuesday, March 4th. The Goldman Sachs Group set a $36.00 price target on shares of Sphere Entertainment and gave the company a "buy" rating in a research note on Friday, April 18th. Finally, Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Sphere Entertainment has a consensus rating of "Hold" and an average target price of $46.22.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 25.08% of the stock is owned by company insiders.

About Sphere Entertainment

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.

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