J. Goldman & Co LP Purchases 20,799 Shares of Sphere Entertainment Co. (NYSE:SPHR)

J. Goldman & Co LP boosted its stake in Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,405 shares of the company's stock after purchasing an additional 20,799 shares during the quarter. J. Goldman & Co LP owned about 0.34% of Sphere Entertainment worth $4,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Sphere Entertainment by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company's stock worth $112,689,000 after acquiring an additional 29,402 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Sphere Entertainment in the fourth quarter valued at approximately $2,656,000. OFI Invest Asset Management acquired a new position in shares of Sphere Entertainment in the fourth quarter valued at approximately $306,000. Entropy Technologies LP increased its stake in shares of Sphere Entertainment by 108.6% in the fourth quarter. Entropy Technologies LP now owns 13,816 shares of the company's stock valued at $557,000 after buying an additional 7,194 shares during the period. Finally, Norges Bank acquired a new position in shares of Sphere Entertainment in the fourth quarter valued at approximately $14,432,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Sphere Entertainment Stock Down 0.7%

NYSE SPHR traded down $0.28 on Thursday, reaching $37.56. The company had a trading volume of 749,371 shares, compared to its average volume of 814,420. The stock has a market capitalization of $1.34 billion, a P/E ratio of -3.58 and a beta of 1.51. The company's fifty day moving average is $29.96 and its 200 day moving average is $37.83. Sphere Entertainment Co. has a 52-week low of $23.89 and a 52-week high of $50.88. 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 (NYSE:SPHR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) EPS for the quarter, beating analysts' consensus estimates of ($2.48) by $0.21. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The business had revenue of $280.57 million during the quarter, compared to analyst estimates of $285.01 million. During the same period in the prior year, the firm posted ($1.33) EPS. Sphere Entertainment's quarterly revenue was down 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPHR shares. Morgan Stanley lowered their price objective on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. reduced their target price on Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group set a $36.00 target price on Sphere Entertainment and gave the company a "buy" rating in a report on Friday, April 18th. Susquehanna initiated coverage on Sphere Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $37.00 price target on the stock. Finally, Macquarie cut their price target on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. One 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's stock. According to MarketBeat.com, Sphere Entertainment has an average rating of "Hold" and an average price target of $46.22.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $33.80, for a total transaction of $1,872,013.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 25.08% of the company's stock.

About Sphere Entertainment

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.