Sphere Entertainment Co. (NYSE:SPHR) Stock Position Lessened by Mariner LLC

Mariner LLC reduced its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,913 shares of the company’s stock after selling 1,117 shares during the quarter. Mariner LLC’s holdings in Sphere Entertainment were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SPHR. Barclays PLC lifted its position in Sphere Entertainment by 295.6% in the third quarter. Barclays PLC now owns 66,045 shares of the company’s stock worth $2,809,000 after purchasing an additional 49,351 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sphere Entertainment in the third quarter valued at $242,000. Tidal Investments LLC bought a new position in Sphere Entertainment during the third quarter valued at about $225,000. Principal Financial Group Inc. acquired a new position in Sphere Entertainment during the third quarter worth about $788,000. Finally, JPMorgan Chase & Co. raised its position in Sphere Entertainment by 140.0% in the third quarter. JPMorgan Chase & Co. now owns 150,955 shares of the company’s stock worth $6,669,000 after acquiring an additional 88,065 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $1,872,013.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 25.08% of the company’s stock.

Sphere Entertainment Trading Down 0.5 %

Shares of NYSE SPHR opened at $27.93 on Tuesday. The stock has a market cap of $999.81 million, a price-to-earnings ratio of -2.66 and a beta of 1.51. The business has a 50 day simple moving average of $30.75 and a 200 day simple moving average of $38.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment Co. has a 52 week low of $23.89 and a 52 week high of $50.88.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SPHR shares. Morgan Stanley decreased their target price on Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. Susquehanna began coverage on shares of Sphere Entertainment in a research note on Monday, April 28th. They set a “positive” rating and a $37.00 target price on the stock. Macquarie reduced their target price on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.67.

Sphere Entertainment Company 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.