Sphere Entertainment Co. (NYSE:SPHR) Shares Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. increased its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,867 shares of the company's stock after acquiring an additional 9,818 shares during the quarter. Graham Capital Management L.P. owned about 0.16% of Sphere Entertainment worth $2,333,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Barclays PLC raised its stake in Sphere Entertainment by 295.6% in the 3rd quarter. Barclays PLC now owns 66,045 shares of the company's stock worth $2,809,000 after acquiring an additional 49,351 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $225,000. JPMorgan Chase & Co. increased its stake in shares of Sphere Entertainment by 140.0% in the third quarter. JPMorgan Chase & Co. now owns 150,955 shares of the company's stock worth $6,669,000 after acquiring an additional 88,065 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of Sphere Entertainment in the fourth quarter worth $1,238,000. Finally, Carnegie Investment Counsel raised its holdings in shares of Sphere Entertainment by 35.1% during the fourth quarter. Carnegie Investment Counsel now owns 225,860 shares of the company's stock worth $9,107,000 after purchasing an additional 58,640 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $33.80, for a total transaction of $1,872,013.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 25.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Guggenheim lifted their price target on Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley lowered their price target on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Susquehanna started coverage on shares of Sphere Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $37.00 target price on the stock. Finally, Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $46.22.

Sphere Entertainment Stock Down 0.7%

SPHR stock traded down $0.28 during midday trading on Thursday, hitting $37.56. The company's stock had a trading volume of 749,371 shares, compared to its average volume of 814,420. The firm has a market capitalization of $1.34 billion, a P/E ratio of -3.58 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 52-week low of $23.89 and a 52-week high of $50.88. The firm has a 50-day simple moving average of $29.96 and a 200-day simple moving average of $37.83.

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, topping 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 period in the previous year, the company posted ($1.33) earnings per share. As a group, equities analysts forecast that Sphere Entertainment Co. will post -11.47 EPS for the current year.

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.