Sphere Entertainment Co. (NYSE:SPHR) Insider Sells $1,872,013.00 in Stock

Sphere Entertainment Co. (NYSE:SPHR) 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sphere Entertainment Stock Up 2.2 %

Shares of NYSE SPHR opened at $31.63 on Friday. The stock has a market cap of $1.13 billion, a PE ratio of -3.01 and a beta of 1.39. 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 52-week low of $30.62 and a 52-week high of $50.88. The business has a 50-day moving average price of $42.53 and a 200 day moving average price of $42.29.

Institutional Trading of Sphere Entertainment

A number of large investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new stake in shares of Sphere Entertainment in the 4th quarter valued at about $202,000. Putney Financial Group LLC acquired a new stake in shares of Sphere Entertainment in the 4th quarter valued at about $257,000. Public Employees Retirement System of Ohio acquired a new stake in Sphere Entertainment during the 4th quarter worth approximately $93,000. Poehling Capital Management INC. grew its stake in shares of Sphere Entertainment by 104.1% in the 4th quarter. Poehling Capital Management INC. now owns 35,839 shares of the company’s stock valued at $1,445,000 after purchasing an additional 18,280 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sphere Entertainment by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,330 shares of the company’s stock valued at $1,868,000 after purchasing an additional 5,849 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on SPHR. Macquarie dropped their price objective on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. 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 report on Tuesday, March 4th. Finally, Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.75.

About Sphere Entertainment

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.