SG Americas Securities LLC Acquires New Holdings in Sphere Entertainment Co. (NYSE:SPHR)

SG Americas Securities LLC acquired a new stake in Sphere Entertainment Co. (NYSE:SPHR) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 5,944 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Seven Eight Capital LP acquired a new position in shares of Sphere Entertainment in the 3rd quarter valued at approximately $980,000. Thompson Siegel & Walmsley LLC bought a new stake in Sphere Entertainment in the 3rd quarter valued at approximately $5,077,000. American Century Companies Inc. bought a new stake in Sphere Entertainment in the 3rd quarter valued at approximately $7,093,000. O Keefe Stevens Advisory Inc. bought a new stake in Sphere Entertainment in the 4th quarter valued at approximately $5,580,000. Finally, Swiss National Bank bought a new stake in Sphere Entertainment in the 3rd quarter valued at approximately $1,923,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sphere Entertainment

In other Sphere Entertainment news, CEO James Lawrence Dolan purchased 76,139 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price of $40.73 per share, for a total transaction of $3,101,141.47. Following the purchase, the chief executive officer now owns 520,039 shares in the company, valued at $21,181,188.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Andrea Greenberg sold 12,131 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $51.00, for a total value of $618,681.00. Following the sale, the chief executive officer now owns 76,650 shares in the company, valued at approximately $3,909,150. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Lawrence Dolan purchased 76,139 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $40.73 per share, for a total transaction of $3,101,141.47. Following the purchase, the chief executive officer now owns 520,039 shares in the company, valued at approximately $21,181,188.47. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 245,669 shares of company stock worth $10,706,120. Company insiders own 24.46% of the company’s stock.

Sphere Entertainment Trading Down 5.3 %

Shares of Sphere Entertainment stock opened at $41.80 on Friday. Sphere Entertainment Co. has a 12-month low of $20.68 and a 12-month high of $51.83. The stock has a market cap of $1.47 billion, a P/E ratio of 3.95 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $44.62 and its 200-day moving average is $37.97.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Monday, February 5th. The company reported ($4.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). Sphere Entertainment had a return on equity of 8.91% and a net margin of 40.36%. The company had revenue of $314.16 million for the quarter, compared to the consensus estimate of $303.28 million. During the same quarter in the prior year, the company earned $2.25 EPS. The company’s revenue for the quarter was up 96.9% on a year-over-year basis. Equities research analysts predict that Sphere Entertainment Co. will post -3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America assumed coverage on Sphere Entertainment in a research note on Wednesday, February 7th. They issued a “neutral” rating and a $43.00 target price on the stock. Seaport Res Ptn cut Sphere Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 8th. Wolfe Research assumed coverage on Sphere Entertainment in a research note on Wednesday, January 17th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Sphere Entertainment from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.60.

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.