8,400 Shares in Sphere Entertainment Co. (NYSE:SPHR) Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP bought a new stake in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,400 shares of the company's stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPHR. Sterling Capital Management LLC raised its stake in shares of Sphere Entertainment by 826.1% in the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock worth $34,000 after buying an additional 760 shares during the period. Ancora Advisors LLC bought a new stake in Sphere Entertainment in the 4th quarter valued at $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Sphere Entertainment by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock worth $53,000 after buying an additional 681 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock worth $67,000 after buying an additional 912 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Sphere Entertainment in the 4th quarter worth about $202,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $33.80, for a total transaction of $1,872,013.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 25.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Macquarie decreased their price target 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. Guggenheim upped their price target on shares of Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Susquehanna started coverage on shares of Sphere Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $37.00 price objective for the company. Morgan Stanley cut their price target on shares of 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. Finally, Benchmark restated a "sell" rating and set a $35.00 price target on shares of Sphere Entertainment in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $45.78.

Sphere Entertainment Price Performance

SPHR stock traded up $0.33 during mid-day trading on Friday, reaching $37.66. 423,504 shares of the company's stock were exchanged, compared to its average volume of 813,650. The stock's 50 day moving average is $31.70 and its 200 day moving average is $37.32. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -3.59 and a beta of 1.51. 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 (NYSE:SPHR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) earnings per share for the quarter, topping 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 firm had revenue of $280.57 million during the quarter, compared to the consensus estimate of $285.01 million. During the same quarter in the prior year, the firm earned ($1.33) EPS. The company's revenue for the quarter was down 12.7% on a year-over-year basis. On average, research analysts expect that Sphere Entertainment Co. will post -11.47 EPS for the current year.

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.