American Century Companies Inc. Acquires 6,050 Shares of Sphere Entertainment Co. (NYSE:SPHR)

American Century Companies Inc. grew its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,928 shares of the company’s stock after acquiring an additional 6,050 shares during the quarter. American Century Companies Inc. owned about 0.18% of Sphere Entertainment worth $2,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Sphere Entertainment by 2.7% during the third quarter. Geode Capital Management LLC now owns 938,463 shares of the company’s stock valued at $39,921,000 after purchasing an additional 24,772 shares during the last quarter. State Street Corp lifted its holdings in shares of Sphere Entertainment by 0.4% during the 3rd quarter. State Street Corp now owns 896,795 shares of the company’s stock worth $38,141,000 after acquiring an additional 3,463 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Sphere Entertainment by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 334,300 shares of the company’s stock worth $14,218,000 after acquiring an additional 5,575 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Sphere Entertainment in the fourth quarter valued at $11,286,000. Finally, Carnegie Investment Counsel raised its position in Sphere Entertainment by 35.1% during the fourth quarter. Carnegie Investment Counsel now owns 225,860 shares of the company’s stock valued at $9,107,000 after purchasing an additional 58,640 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SPHR shares. JPMorgan Chase & Co. reduced their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group upgraded shares of Sphere Entertainment to a “strong-buy” rating in a research report on Thursday, March 27th. Macquarie lowered their price objective on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Hold” and a consensus target price of $46.75.

Insider Buying and Selling at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction that occurred on 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 link. Corporate insiders own 25.08% of the company’s stock.

Sphere Entertainment Stock Up 1.9 %

Shares of NYSE SPHR opened at $27.23 on Tuesday. The firm’s fifty day moving average is $39.25 and its 200 day moving average is $40.93. Sphere Entertainment Co. has a 52 week low of $24.77 and a 52 week high of $50.88. 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 market cap of $974.46 million, a price-to-earnings ratio of -2.59 and a beta of 1.48.

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.