Sphere Entertainment Co. (NYSE:SPHR) Shares Purchased by J. Goldman & Co LP

J. Goldman & Co LP increased its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,405 shares of the company’s stock after acquiring an additional 20,799 shares during the quarter. J. Goldman & Co LP owned approximately 0.34% of Sphere Entertainment worth $4,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its holdings in Sphere Entertainment by 1,350.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 143,845 shares of the company’s stock valued at $5,800,000 after buying an additional 133,928 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Sphere Entertainment during the fourth quarter worth about $202,000. Graham Capital Management L.P. increased its stake in Sphere Entertainment by 20.4% during the fourth quarter. Graham Capital Management L.P. now owns 57,867 shares of the company’s stock worth $2,333,000 after purchasing an additional 9,818 shares during the period. Clearline Capital LP increased its stake in Sphere Entertainment by 108.1% during the fourth quarter. Clearline Capital LP now owns 264,055 shares of the company’s stock worth $10,647,000 after purchasing an additional 137,150 shares during the period. Finally, Deutsche Bank AG increased its stake in Sphere Entertainment by 31.0% during the fourth quarter. Deutsche Bank AG now owns 114,229 shares of the company’s stock worth $4,606,000 after purchasing an additional 27,011 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Trading Up 2.9%

NYSE:SPHR opened at $32.50 on Monday. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88. The firm has a market capitalization of $1.16 billion, a P/E ratio of -3.10 and a beta of 1.51. 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 business has a 50 day simple moving average of $29.96 and a 200 day simple moving average of $37.89.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($2.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.21. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The company had revenue of $280.57 million during the quarter, compared to analyst estimates of $285.01 million. During the same quarter in the previous year, the firm posted ($1.33) EPS. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. Equities research analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPHR shares. The Goldman Sachs Group set a $36.00 price target on shares of Sphere Entertainment and gave the stock a “buy” rating in a research note on Friday, April 18th. JPMorgan Chase & Co. cut their price target on shares of Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. Morgan Stanley cut their target price 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. Finally, Macquarie cut 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.22.

Insider Activity

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.08% of the stock is currently owned by corporate insiders.

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.