Sphere Entertainment Co. (NYSE:SPHR) Shares Bought by Poehling Capital Management INC.

Poehling Capital Management INC. increased its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 104.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,839 shares of the company's stock after purchasing an additional 18,280 shares during the period. Poehling Capital Management INC. owned approximately 0.10% of Sphere Entertainment worth $1,445,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Sphere Entertainment by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,330 shares of the company's stock valued at $1,868,000 after buying an additional 5,849 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Sphere Entertainment during the fourth quarter worth about $339,000. Steadfast Capital Management LP grew its stake in Sphere Entertainment by 183.8% during the fourth quarter. Steadfast Capital Management LP now owns 926,100 shares of the company's stock worth $37,340,000 after purchasing an additional 599,800 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in Sphere Entertainment during the fourth quarter worth approximately $224,000. Finally, ProShare Advisors LLC grew its stake in Sphere Entertainment by 52.5% during the fourth quarter. ProShare Advisors LLC now owns 7,653 shares of the company's stock worth $309,000 after purchasing an additional 2,634 shares during the period. Institutional investors own 92.03% of the company's stock.

Sphere Entertainment Trading Up 1.5%

SPHR traded up $0.56 during trading on Tuesday, hitting $37.94. 179,266 shares of the stock were exchanged, compared to its average volume of 809,888. The firm has a 50 day simple moving average of $30.92 and a 200 day simple moving average of $37.46. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.61 and a beta of 1.51. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year 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.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.48) by $0.21. The business had revenue of $280.57 million for 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 was down 12.7% compared to the same quarter last year. During the same period last year, the business posted ($1.33) EPS. As a group, equities analysts expect that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Insiders Place Their Bets

In related 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 value of $1,872,013.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 25.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SPHR shares. Benchmark reissued a "sell" rating and issued a $35.00 price objective on shares of Sphere Entertainment in a research note on Monday, May 19th. Morgan Stanley lowered their target price on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Susquehanna assumed coverage on Sphere Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $37.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Sphere Entertainment from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, Macquarie decreased their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. One investment 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.78.

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.