Sphere Entertainment Co. (NYSE:SPHR) Shares Acquired by J. Goldman & Co LP

J. Goldman & Co LP lifted its stake in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,405 shares of the company's stock after purchasing an additional 20,799 shares during the period. J. Goldman & Co LP owned 0.34% of Sphere Entertainment worth $4,895,000 as of its most recent SEC filing.

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

Insider Activity

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 25.08% of the company's stock.

Sphere Entertainment Stock Up 3.4%

Shares of NYSE SPHR traded up $1.26 during mid-day trading on Friday, hitting $38.80. The company had a trading volume of 1,005,979 shares, compared to its average volume of 813,480. The company has a market capitalization of $1.39 billion, a PE ratio of -3.70 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 Co. has a 1-year low of $23.89 and a 1-year high of $50.88. The business's 50-day simple moving average is $30.20 and its 200 day simple moving average is $37.71.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($2.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.48) by $0.21. The business had revenue of $280.57 million for the quarter, compared to analysts' expectations of $285.01 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The company's revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.33) earnings per share. On average, analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group set a $36.00 price target on Sphere Entertainment and gave the stock a "buy" rating in a research note on Friday, April 18th. Susquehanna assumed coverage on Sphere Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $37.00 price target on the stock. Macquarie decreased their price target on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Guggenheim upped their price target on Sphere Entertainment from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Benchmark restated a "sell" rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $46.22.

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.