Sphere Entertainment Co. (NYSE:SPHR) Shares Bought by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. lifted its position in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 198,796 shares of the company's stock after purchasing an additional 6,652 shares during the quarter. Sphere Entertainment makes up 2.1% of O Keefe Stevens Advisory Inc.'s investment portfolio, making the stock its 17th biggest holding. O Keefe Stevens Advisory Inc. owned about 0.56% of Sphere Entertainment worth $6,505,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SPHR. Barclays PLC grew its position in Sphere Entertainment by 295.6% in the 3rd quarter. Barclays PLC now owns 66,045 shares of the company's stock valued at $2,809,000 after buying an additional 49,351 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Sphere Entertainment by 101.6% during the fourth quarter. SG Americas Securities LLC now owns 11,504 shares of the company's stock worth $464,000 after acquiring an additional 5,799 shares during the period. Blue Trust Inc. raised its holdings in Sphere Entertainment by 149.5% during the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock worth $67,000 after purchasing an additional 912 shares in the last quarter. Empowered Funds LLC raised its holdings in Sphere Entertainment by 5.1% during the fourth quarter. Empowered Funds LLC now owns 179,798 shares of the company's stock worth $7,249,000 after purchasing an additional 8,751 shares in the last quarter. Finally, Entropy Technologies LP raised its holdings in Sphere Entertainment by 108.6% during the fourth quarter. Entropy Technologies LP now owns 13,816 shares of the company's stock worth $557,000 after purchasing an additional 7,194 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction on Monday, March 10th. The stock was 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 hyperlink. 25.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Macquarie cut their target price 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. JPMorgan Chase & Co. lifted 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. Morgan Stanley dropped their price target on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Guggenheim raised their price target on Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group set a $36.00 price target on Sphere Entertainment and gave the stock a "buy" rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.78.

Sphere Entertainment Trading Up 0.5%

Shares of NYSE:SPHR traded up $0.19 during midday trading on Tuesday, reaching $38.05. The company's stock had a trading volume of 427,690 shares, compared to its average volume of 812,660. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.62 and a beta of 1.51. The company has a quick ratio of 0.56, a current 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 business has a 50 day moving average price of $31.45 and a 200 day moving average price of $37.34.

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

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.