Sphere Entertainment Co. (NYSE:SPHR) Shares Acquired by Boyar Asset Management Inc.

Boyar Asset Management Inc. lifted its stake in Sphere Entertainment Co. (NYSE:SPHR) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,457 shares of the company’s stock after buying an additional 542 shares during the period. Sphere Entertainment makes up 1.2% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 21st largest holding. Boyar Asset Management Inc. owned about 0.13% of Sphere Entertainment worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings 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 purchasing an additional 760 shares during the last quarter. Tower Research Capital LLC TRC grew its stake 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 buying an additional 681 shares during the last quarter. Blue Trust Inc. grew its stake in Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock worth $67,000 after buying an additional 912 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Sphere Entertainment during the third quarter worth approximately $187,000. Finally, Tidal Investments LLC purchased a new stake in Sphere Entertainment in the third quarter valued at approximately $225,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $28.22 on Wednesday. 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 company has a 50-day moving average price of $32.08 and a 200 day moving average price of $38.90. Sphere Entertainment Co. has a 52 week low of $23.89 and a 52 week high of $50.88. The company has a market cap of $1.01 billion, a P/E ratio of -2.69 and a beta of 1.48.

Insider Activity

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 value of $1,872,013.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 25.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPHR. Macquarie lowered 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 report on Tuesday, March 11th. Susquehanna assumed coverage on shares of Sphere Entertainment in a research report on Monday. They set a “positive” rating and a $37.00 price objective on the stock. The Goldman Sachs Group set a $36.00 target price on shares of Sphere Entertainment and gave the company a “buy” rating in a report on Friday, April 18th. JPMorgan Chase & Co. lowered their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $69.00 price objective on shares of Sphere Entertainment in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.67.

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.