Gamco Investors INC. ET AL Sells 12,857 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Gamco Investors INC. ET AL reduced its stake in Sphere Entertainment Co. (NYSE:SPHR) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 906,401 shares of the company’s stock after selling 12,857 shares during the period. Gamco Investors INC. ET AL owned approximately 2.56% of Sphere Entertainment worth $36,546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE increased its holdings in shares of Sphere Entertainment by 3.8% in the 4th quarter. US Bancorp DE now owns 7,511 shares of the company’s stock worth $303,000 after buying an additional 276 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Sphere Entertainment by 5.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company’s stock worth $401,000 after acquiring an additional 500 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Sphere Entertainment by 2.8% during the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the company’s stock worth $1,076,000 after purchasing an additional 720 shares during the period. Commonwealth Equity Services LLC raised its position in Sphere Entertainment by 10.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company’s stock worth $299,000 after purchasing an additional 721 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in Sphere Entertainment by 826.1% in the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock worth $34,000 after purchasing an additional 760 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

NYSE SPHR opened at $26.46 on Tuesday. The company has a market cap of $947.08 million, a price-to-earnings ratio of -2.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $36.73 and its 200 day moving average price is $40.25. Sphere Entertainment Co. has a 1 year low of $24.77 and a 1 year high of $50.88.

Insider Activity at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. 25.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SPHR has been the topic of several recent analyst reports. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Morgan Stanley reduced their price target on shares of Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Macquarie dropped their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. The Goldman Sachs Group raised Sphere Entertainment to a “strong-buy” rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.25.

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.