Jump Financial LLC Makes New Investment in Sphere Entertainment Co. (NYSE:SPHR)

Jump Financial LLC acquired a new position in Sphere Entertainment Co. (NYSE:SPHR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,076 shares of the company's stock, valued at approximately $1,633,000. Jump Financial LLC owned 0.14% of Sphere Entertainment at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SPHR. Ancora Advisors LLC purchased a new stake in Sphere Entertainment in the third quarter worth about $25,000. National Bank of Canada FI bought a new position in Sphere Entertainment in the fourth quarter worth about $46,000. Citigroup Inc. bought a new position in Sphere Entertainment in the third quarter worth about $59,000. Investors Research Corp bought a new position in Sphere Entertainment in the third quarter worth about $80,000. Finally, Nisa Investment Advisors LLC bought a new position in Sphere Entertainment in the third quarter worth about $91,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Stock Down 0.6 %

Shares of SPHR traded down $0.22 during mid-day trading on Wednesday, hitting $37.79. 1,046,457 shares of the company traded hands, compared to its average volume of 731,155. Sphere Entertainment Co. has a 1-year low of $20.68 and a 1-year high of $51.83. The business has a 50 day moving average of $43.95 and a 200 day moving average of $38.48. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.33 billion, a PE ratio of 3.45 and a beta of 1.46.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its quarterly earnings results on Friday, May 10th. The company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.98). Sphere Entertainment had a return on equity of 8.11% and a net margin of 43.36%. The business had revenue of $321.33 million during the quarter, compared to analyst estimates of $324.65 million. During the same quarter last year, the company posted ($1.08) EPS. Sphere Entertainment's quarterly revenue was up 98.3% compared to the same quarter last year. Equities research analysts anticipate that Sphere Entertainment Co. will post -3.89 EPS for the current year.

Analysts Set New Price Targets

SPHR has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of Sphere Entertainment in a report on Wednesday, January 17th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. boosted their target price on shares of Sphere Entertainment from $33.00 to $37.00 and gave the stock a "neutral" rating in a report on Tuesday, February 6th. Seaport Res Ptn downgraded shares of Sphere Entertainment from a "buy" rating to a "neutral" rating in a report on Monday, April 8th. Finally, Bank of America assumed coverage on shares of Sphere Entertainment in a report on Wednesday, February 7th. They set a "neutral" rating and a $43.00 price objective on the stock. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $35.60.

Insider Buying and Selling

In related news, CEO James Lawrence Dolan acquired 59,374 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $41.11 per share, for a total transaction of $2,440,865.14. Following the transaction, the chief executive officer now owns 443,900 shares in the company, valued at approximately $18,248,729. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Sphere Entertainment news, CEO James Lawrence Dolan bought 59,374 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $41.11 per share, for a total transaction of $2,440,865.14. Following the transaction, the chief executive officer now directly owns 443,900 shares of the company's stock, valued at approximately $18,248,729. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrea Greenberg sold 12,131 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $51.00, for a total value of $618,681.00. Following the transaction, the chief executive officer now owns 76,650 shares in the company, valued at approximately $3,909,150. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 245,669 shares of company stock worth $10,706,120. 24.46% of the stock is owned by company insiders.

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.