Caxton Associates LLP Has $2.02 Million Stock Position in Sphere Entertainment Co. $SPHR

Caxton Associates LLP cut its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 31.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,394 shares of the company’s stock after selling 22,665 shares during the period. Caxton Associates LLP owned about 0.14% of Sphere Entertainment worth $2,023,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Ariel Investments LLC raised its holdings in shares of Sphere Entertainment by 12.7% during the 2nd quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock worth $296,790,000 after buying an additional 802,098 shares in the last quarter. Holocene Advisors LP grew its position in Sphere Entertainment by 23.2% in the second quarter. Holocene Advisors LP now owns 760,160 shares of the company’s stock valued at $31,775,000 after acquiring an additional 142,997 shares during the last quarter. Geode Capital Management LLC grew its position in Sphere Entertainment by 1.5% in the second quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock valued at $27,175,000 after acquiring an additional 9,746 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after acquiring an additional 357,794 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Sphere Entertainment by 1.7% in the second quarter. Gabelli Funds LLC now owns 563,139 shares of the company’s stock worth $23,539,000 after acquiring an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $89.80 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96. Sphere Entertainment Co. has a 52 week low of $23.89 and a 52 week high of $93.49. The firm has a market cap of $3.17 billion, a PE ratio of -17.37 and a beta of 1.79. The firm’s fifty day moving average is $73.18 and its 200-day moving average is $55.35.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPHR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, October 8th. BTIG Research started coverage on shares of Sphere Entertainment in a research note on Monday, October 6th. They set a “neutral” rating on the stock. Guggenheim upped their price target on shares of Sphere Entertainment from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. The Goldman Sachs Group raised their price objective on Sphere Entertainment from $69.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Morgan Stanley boosted their price objective on Sphere Entertainment from $40.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.25.

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.