Handelsbanken Fonder AB Sells 600 Shares of Sphere Entertainment Co. $SPHR

Handelsbanken Fonder AB lessened its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 9.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,700 shares of the company’s stock after selling 600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sphere Entertainment were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in Sphere Entertainment by 95.3% during the second quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock worth $31,000 after buying an additional 363 shares in the last quarter. CWM LLC lifted its holdings in shares of Sphere Entertainment by 915.3% during the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock worth $31,000 after acquiring an additional 659 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Sphere Entertainment during the 1st quarter valued at about $123,000. D.A. Davidson & CO. acquired a new stake in shares of Sphere Entertainment during the 2nd quarter valued at about $209,000. Finally, ProShare Advisors LLC bought a new stake in Sphere Entertainment in the second quarter valued at about $238,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Trading Up 1.9%

SPHR stock opened at $84.49 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36. Sphere Entertainment Co. has a twelve month low of $23.89 and a twelve month high of $84.78. The company has a market cap of $2.98 billion, a P/E ratio of -16.34 and a beta of 1.79. The business has a fifty day moving average of $68.32 and a 200-day moving average of $52.04.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SPHR shares. Morgan Stanley upped their price objective on Sphere Entertainment from $40.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, November 3rd. The Goldman Sachs Group increased their price objective on Sphere Entertainment from $69.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Benchmark lifted their price objective on Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Sphere Entertainment from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, BTIG Research initiated coverage on shares of Sphere Entertainment in a report on Monday, October 6th. They set a “neutral” rating for the company. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Sphere Entertainment has an average rating of “Hold” and an average price target of $63.88.

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.