Sphere Entertainment Co. (NYSE:SPHR) Stake Lifted by Northern Trust Corp

Northern Trust Corp raised its position in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 370,946 shares of the company's stock after buying an additional 20,613 shares during the period. Northern Trust Corp owned about 1.05% of Sphere Entertainment worth $14,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SPHR. Aquatic Capital Management LLC raised its stake in Sphere Entertainment by 95.7% in the fourth quarter. Aquatic Capital Management LLC now owns 63,395 shares of the company's stock valued at $2,556,000 after buying an additional 30,995 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Sphere Entertainment by 169.0% during the fourth quarter. Boothbay Fund Management LLC now owns 9,100 shares of the company's stock worth $367,000 after buying an additional 22,296 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Sphere Entertainment during the fourth quarter worth about $645,000. Tower Research Capital LLC TRC boosted its holdings 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 purchasing an additional 681 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Sphere Entertainment by 7.6% in the 4th quarter. MetLife Investment Management LLC now owns 17,387 shares of the company's stock valued at $701,000 after purchasing an additional 1,229 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were 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 SEC, which is accessible through this hyperlink. 25.08% of the stock is owned by company insiders.

Analyst Ratings Changes

SPHR has been the subject of a number of research reports. Macquarie reduced their price target on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. The Goldman Sachs Group set a $36.00 target price on shares of Sphere Entertainment and gave the stock a "buy" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. boosted their price objective on shares of Sphere Entertainment from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday. Benchmark reaffirmed a "sell" rating and set a $35.00 price target on shares of Sphere Entertainment in a research report on Monday. Finally, Susquehanna started coverage on shares of Sphere Entertainment in a report on Monday, April 28th. They issued a "positive" rating and a $37.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $45.78.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $36.31 on Thursday. 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 Co. has a one year low of $23.89 and a one year high of $50.88. The company's 50-day simple moving average is $30.61 and its 200-day simple moving average is $37.66. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.46 and a beta of 1.51.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) EPS 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 business had revenue of $280.57 million for the quarter, compared to analysts' expectations of $285.01 million. During the same quarter last year, the company posted ($1.33) earnings per share. The company's quarterly revenue was down 12.7% compared to the same quarter last year. Equities analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal 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.