Cerity Partners LLC Acquires 3,062 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Cerity Partners LLC increased its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 60.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,165 shares of the company’s stock after buying an additional 3,062 shares during the period. Cerity Partners LLC’s holdings in Sphere Entertainment were worth $329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Sphere Entertainment by 3.8% in the fourth quarter. US Bancorp DE now owns 7,511 shares of the company’s stock valued at $303,000 after acquiring an additional 276 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Sphere Entertainment by 5.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company’s stock valued at $401,000 after purchasing an additional 500 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Sphere Entertainment by 10.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company’s stock worth $299,000 after buying an additional 721 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Sphere Entertainment by 18.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 5,793 shares of the company’s stock worth $234,000 after buying an additional 893 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after buying an additional 912 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 1.9 %

Sphere Entertainment stock opened at $25.30 on Thursday. The company has a 50 day moving average of $33.64 and a 200-day moving average of $39.36. 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 twelve month low of $23.89 and a twelve month high of $50.88. The stock has a market capitalization of $905.56 million, a PE ratio of -2.41 and a beta of 1.48.

Insider Buying and Selling

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 25.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SPHR. Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Morgan Stanley dropped their price objective on Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their target price on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Macquarie lowered their price target on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group set a $36.00 price objective on shares of Sphere Entertainment and gave the stock a “buy” rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Sphere Entertainment has a consensus rating of “Hold” and an average price target of $46.75.

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.