Squarepoint Ops LLC Has $5.41 Million Stock Holdings in Sphere Entertainment Co. (NYSE:SPHR)

Squarepoint Ops LLC lowered its stake in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 58.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,129 shares of the company's stock after selling 188,105 shares during the period. Squarepoint Ops LLC owned approximately 0.38% of Sphere Entertainment worth $5,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SPHR. US Bancorp DE boosted its stake in Sphere Entertainment by 3.8% in the 4th quarter. US Bancorp DE now owns 7,511 shares of the company's stock worth $303,000 after purchasing an additional 276 shares during the period. Boyar Asset Management Inc. increased its stake in Sphere Entertainment by 1.2% in the 4th quarter. Boyar Asset Management Inc. now owns 44,457 shares of the company's stock valued at $1,793,000 after buying an additional 542 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Sphere Entertainment by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock valued at $53,000 after buying an additional 681 shares during the last quarter. Legal & General Group Plc lifted its position in Sphere Entertainment by 2.8% during the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the company's stock worth $1,076,000 after buying an additional 720 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Sphere Entertainment by 10.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company's stock worth $299,000 after buying an additional 721 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR traded up $0.04 during midday trading on Thursday, hitting $37.87. 519,161 shares of the company's stock were exchanged, compared to its average volume of 885,777. 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 firm has a market capitalization of $1.36 billion, a PE ratio of -3.61 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's 50 day moving average price is $31.16 and its 200 day moving average price is $37.47.

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 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 business had revenue of $280.57 million during the quarter, compared to the consensus estimate of $285.01 million. During the same quarter last year, the firm posted ($1.33) EPS. The company's quarterly revenue was down 12.7% on a year-over-year basis. As a group, analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

Insider Transactions at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company's stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 25.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SPHR shares. JPMorgan Chase & Co. lifted their target price on Sphere Entertainment from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group set a $36.00 price target on Sphere Entertainment and gave the company a "buy" rating in a research note on Friday, April 18th. Macquarie dropped their price objective on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Susquehanna initiated coverage on Sphere Entertainment in a report on Monday, April 28th. They issued a "positive" rating and a $37.00 price objective for the company. Finally, Morgan Stanley lowered 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 report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Sphere Entertainment presently has a consensus rating of "Hold" and an average target price of $45.78.

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.