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

Squarepoint Ops LLC lowered its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 58.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its holdings in shares of Sphere Entertainment by 826.1% in the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock worth $34,000 after acquiring an additional 760 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Sphere Entertainment during the fourth quarter valued at $40,000. Tower Research Capital LLC TRC grew its holdings in shares of Sphere Entertainment by 108.1% during the fourth 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 in the last quarter. Blue Trust Inc. grew its holdings in shares of Sphere Entertainment by 149.5% during the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after buying an additional 912 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Sphere Entertainment during the fourth quarter valued at $202,000. Institutional investors own 92.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SPHR. The Goldman Sachs Group set a $36.00 price target on Sphere Entertainment and gave the company a "buy" rating in a report on Friday, April 18th. Benchmark reissued a "sell" rating and set a $35.00 price objective on shares of Sphere Entertainment in a research report on Monday, May 19th. Guggenheim lifted their price objective on Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. lifted their price objective 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, Morgan Stanley reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Sphere Entertainment currently has a consensus rating of "Hold" and an average target price of $45.78.

Sphere Entertainment Price Performance

Shares of SPHR stock traded down $0.26 during trading hours on Friday, hitting $37.77. 67,485 shares of the company's stock were exchanged, compared to its average volume of 809,450. The stock's 50-day moving average is $31.27 and its 200-day moving average is $37.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. Sphere Entertainment Co. has a 52 week low of $23.89 and a 52 week high of $50.88. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -3.60 and a beta of 1.51.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $285.01 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The firm's revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.33) earnings per share. As a group, research analysts forecast that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Insider Transactions at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 25.08% of the stock is currently owned by corporate insiders.

Sphere Entertainment 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.