Quantbot Technologies LP Purchases 47,098 Shares of Sphere Entertainment Co. (NYSE:SPHR)

Quantbot Technologies LP raised its position in Sphere Entertainment Co. (NYSE:SPHR) by 227.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,829 shares of the company’s stock after acquiring an additional 47,098 shares during the quarter. Quantbot Technologies LP’s holdings in Sphere Entertainment were worth $2,735,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SPHR. 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 acquiring an additional 912 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Sphere Entertainment in the third quarter valued at about $187,000. ArrowMark Colorado Holdings LLC bought a new position in shares of Sphere Entertainment in the third quarter worth about $219,000. Tidal Investments LLC bought a new position in shares of Sphere Entertainment in the third quarter worth about $225,000. Finally, Captrust Financial Advisors purchased a new position in shares of Sphere Entertainment during the 3rd quarter valued at about $227,000. Institutional investors 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 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 transaction of $1,872,013.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 25.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SPHR. JPMorgan Chase & Co. lowered 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. Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. Finally, Macquarie lowered their price objective on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Hold” and an average price target of $46.75.

Sphere Entertainment Stock Down 0.5 %

NYSE SPHR opened at $32.05 on Friday. The stock’s 50 day moving average is $41.56 and its 200 day moving average is $41.74. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a 12 month low of $30.62 and a 12 month high of $50.88. The stock has a market cap of $1.15 billion, a PE ratio of -3.05 and a beta of 1.39.

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.