Sphere Entertainment Co. (NYSE:SPHR) Insider Sells $1,872,013.00 in Stock

Sphere Entertainment Co. (NYSE:SPHR) insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business’s stock in a transaction that occurred 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 available through the SEC website.

Sphere Entertainment Stock Up 2.2 %

Shares of NYSE SPHR opened at $31.63 on Friday. The firm has a market capitalization of $1.13 billion, a PE ratio of -3.01 and a beta of 1.39. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a 1 year low of $30.62 and a 1 year high of $50.88. The firm’s 50-day moving average is $42.53 and its 200-day moving average is $42.29.

Analyst Upgrades and Downgrades

Several research firms have commented on SPHR. Benchmark reissued a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. JPMorgan Chase & Co. decreased their target price 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. Finally, Macquarie decreased their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ariel Investments LLC boosted its stake in Sphere Entertainment by 7.4% during the 4th quarter. Ariel Investments LLC now owns 5,744,192 shares of the company’s stock worth $231,606,000 after acquiring an additional 394,050 shares during the last quarter. Vanguard Group Inc. boosted its stake 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. Dimensional Fund Advisors LP boosted its stake in Sphere Entertainment by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,465,363 shares of the company’s stock worth $59,084,000 after acquiring an additional 9,837 shares during the last quarter. Geode Capital Management LLC raised its holdings in Sphere Entertainment by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 938,463 shares of the company’s stock worth $39,921,000 after buying an additional 24,772 shares during the period. Finally, Steadfast Capital Management LP raised its holdings in Sphere Entertainment by 183.8% during the 4th quarter. Steadfast Capital Management LP now owns 926,100 shares of the company’s stock worth $37,340,000 after buying an additional 599,800 shares during the period. Institutional investors own 92.03% of the company’s stock.

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.