Strs Ohio Has $587,000 Position in Sphere Entertainment Co. (NYSE:SPHR)

Strs Ohio lowered its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,300 shares of the company’s stock after selling 1,800 shares during the period. Strs Ohio’s holdings in Sphere Entertainment were worth $587,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ancora Advisors LLC acquired a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $25,000. Citigroup Inc. acquired a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $59,000. Investors Research Corp acquired a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $80,000. Nisa Investment Advisors LLC acquired a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $91,000. Finally, Amalgamated Bank acquired a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $96,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Buying and Selling at Sphere Entertainment

In other Sphere Entertainment news, CEO Andrea Greenberg sold 12,131 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $51.00, for a total value of $618,681.00. Following the transaction, the chief executive officer now directly owns 76,650 shares in the company, valued at $3,909,150. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Andrea Greenberg sold 12,131 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $51.00, for a total transaction of $618,681.00. Following the transaction, the chief executive officer now directly owns 76,650 shares in the company, valued at $3,909,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Lawrence Dolan bought 110,156 shares of Sphere Entertainment stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $46.88 per share, for a total transaction of $5,164,113.28. Following the completion of the transaction, the chief executive officer now directly owns 630,195 shares of the company’s stock, valued at approximately $29,543,541.60. The disclosure for this purchase can be found here. Insiders have bought a total of 245,669 shares of company stock worth $10,706,120 over the last ninety days. Corporate insiders own 24.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Sphere Entertainment in a report on Wednesday, February 7th. They set a “neutral” rating and a $43.00 price objective on the stock. Seaport Res Ptn downgraded shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 8th. JPMorgan Chase & Co. boosted their price objective on shares of Sphere Entertainment from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Finally, Wolfe Research initiated coverage on shares of Sphere Entertainment in a research report on Wednesday, January 17th. They set a “peer perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.60.

Sphere Entertainment Price Performance

NYSE:SPHR opened at $39.76 on Friday. The firm has a market cap of $1.40 billion, a PE ratio of 3.76 and a beta of 1.40. Sphere Entertainment Co. has a 12 month low of $20.68 and a 12 month high of $51.83. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $44.56 and its two-hundred day moving average price is $38.08.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Monday, February 5th. The company reported ($4.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). The firm had revenue of $314.16 million during the quarter, compared to analyst estimates of $303.28 million. Sphere Entertainment had a net margin of 40.36% and a return on equity of 8.91%. Sphere Entertainment’s quarterly revenue was up 96.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. On average, equities analysts anticipate that Sphere Entertainment Co. will post -3.88 EPS for the current fiscal year.

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.