Sphere Entertainment Co. (NYSE:SPHR) Stock Holdings Boosted by Jump Financial LLC

Jump Financial LLC boosted its position in Sphere Entertainment Co. (NYSE:SPHR) by 431.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,300 shares of the company’s stock after purchasing an additional 45,700 shares during the quarter. Jump Financial LLC’s holdings in Sphere Entertainment were worth $2,270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in shares of Sphere Entertainment by 826.1% in the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock valued at $34,000 after purchasing an additional 760 shares during the period. Blue Trust Inc. increased its position in Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after acquiring an additional 912 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Sphere Entertainment during the 3rd quarter valued at $187,000. Tidal Investments LLC acquired a new position in Sphere Entertainment during the 3rd quarter worth $225,000. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Sphere Entertainment by 18.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,793 shares of the company’s stock worth $234,000 after purchasing an additional 893 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group set a $36.00 price objective on shares of Sphere Entertainment and gave the stock a “buy” rating in a report on Friday. Morgan Stanley decreased their price objective on shares of Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Macquarie dropped their target price on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. dropped their price objective 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.13.

Insider Activity at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $33.80, for a total value of $1,872,013.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 25.08% of the stock is currently owned by corporate insiders.

Sphere Entertainment Stock Performance

SPHR opened at $25.28 on Friday. The business has a fifty day simple moving average of $35.00 and a 200-day simple moving average of $39.79. The firm has a market cap of $904.70 million, a PE ratio of -2.41 and a beta of 1.48. 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 Co. has a fifty-two week low of $24.60 and a fifty-two 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.