One68 Global Capital LLC Takes Position in Sphere Entertainment Co. (NYSE:SPHR)

One68 Global Capital LLC acquired 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 filing with the Securities and Exchange Commission (SEC). The firm acquired 19,000 shares of the company's stock, valued at approximately $766,000. One68 Global Capital LLC owned about 0.05% of Sphere Entertainment at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. US Bancorp DE increased its holdings in Sphere Entertainment by 3.8% in the 4th quarter. US Bancorp DE now owns 7,511 shares of the company's stock valued at $303,000 after acquiring an additional 276 shares during the last quarter. Central Pacific Bank Trust Division grew its position in shares of Sphere Entertainment by 5.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company's stock valued at $401,000 after purchasing an additional 500 shares in the last quarter. Boyar Asset Management Inc. lifted its position in shares of Sphere Entertainment by 1.2% in the fourth quarter. Boyar Asset Management Inc. now owns 44,457 shares of the company's stock worth $1,793,000 after buying an additional 542 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in 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 during the last quarter. Finally, Legal & General Group Plc grew its holdings in Sphere Entertainment by 2.8% during the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the company's stock valued at $1,076,000 after buying an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

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 that occurred on Monday, March 10th. The shares were 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 available through the SEC website. Insiders own 25.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPHR. Guggenheim reissued a "buy" rating and issued a $69.00 target price on shares of Sphere Entertainment in a report on Wednesday, April 23rd. Morgan Stanley reduced their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Macquarie lowered their price target on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Susquehanna began coverage on Sphere Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $37.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $45.67.

Sphere Entertainment Trading Up 3.3 %

Shares of NYSE SPHR traded up $0.89 during midday trading on Friday, hitting $28.01. The company's stock had a trading volume of 625,976 shares, compared to its average volume of 813,116. The business's 50 day moving average is $31.03 and its two-hundred day moving average is $38.54. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.00 billion, a P/E ratio of -2.67 and a beta of 1.51.

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.