Sphere Entertainment Co. (NYSE:SPHR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,044 shares of the company's stock after selling 16,803 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.09% of Sphere Entertainment worth $1,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. US Bancorp DE grew its stake in shares of Sphere Entertainment by 3.8% during the fourth quarter. US Bancorp DE now owns 7,511 shares of the company's stock worth $303,000 after acquiring an additional 276 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Sphere Entertainment by 108.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock worth $53,000 after purchasing an additional 681 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Sphere Entertainment by 2.8% in the fourth quarter. Legal & General Group Plc now owns 26,678 shares of the company's stock worth $1,076,000 after buying an additional 720 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Sphere Entertainment by 10.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company's stock worth $299,000 after buying an additional 721 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Sphere Entertainment by 826.1% during the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock worth $34,000 after buying an additional 760 shares during the period. Institutional investors and hedge funds 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 company's stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, 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. Benchmark reaffirmed a "sell" rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. Guggenheim upped their target price on Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. Morgan Stanley dropped their price objective 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. Finally, Susquehanna began coverage on shares of Sphere Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $37.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $46.22.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $32.50 on Friday. 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 company has a market capitalization of $1.16 billion, a P/E ratio of -3.10 and a beta of 1.51. The business's 50 day moving average is $29.96 and its two-hundred day moving average is $37.97. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88.

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

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