Aquatic Capital Management LLC Increases Stake in Sphere Entertainment Co. (NYSE:SPHR)

Aquatic Capital Management LLC raised its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 95.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,395 shares of the company’s stock after buying an additional 30,995 shares during the period. Aquatic Capital Management LLC owned about 0.18% of Sphere Entertainment worth $2,556,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Sphere Entertainment by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company’s stock worth $112,689,000 after purchasing an additional 29,402 shares during the period. OFI Invest Asset Management bought a new position in Sphere Entertainment during the fourth quarter valued at $306,000. Entropy Technologies LP lifted its position in Sphere Entertainment by 108.6% during the fourth quarter. Entropy Technologies LP now owns 13,816 shares of the company’s stock valued at $557,000 after purchasing an additional 7,194 shares during the last quarter. Raymond James Financial Inc. bought a new position in Sphere Entertainment during the fourth quarter valued at $2,656,000. Finally, Norges Bank bought a new stake in shares of Sphere Entertainment in the 4th quarter worth about $14,432,000. 92.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this link. Corporate insiders own 25.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPHR. The Goldman Sachs Group set a $36.00 price objective on shares of Sphere Entertainment and gave the company a “buy” rating in a report on Friday, April 18th. Susquehanna assumed coverage on Sphere Entertainment in a report on Monday. They set a “positive” rating and a $37.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Finally, Morgan Stanley cut their target price on Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.67.

Sphere Entertainment Stock Up 2.7 %

Shares of NYSE:SPHR opened at $29.65 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $32.46 and a two-hundred day moving average of $38.97. The stock has a market cap of $1.06 billion, a P/E ratio of -2.82 and a beta of 1.48. Sphere Entertainment Co. has a 52-week low of $23.89 and a 52-week high of $50.88.

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.