Sphere Entertainment Co. (NYSE:SPHR) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,282 shares of the company’s stock after purchasing an additional 4,490 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Sphere Entertainment were worth $9,043,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Sphere Entertainment by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 938,463 shares of the company’s stock valued at $39,921,000 after purchasing an additional 24,772 shares in the last quarter. State Street Corp increased its holdings in shares of Sphere Entertainment by 0.4% in the 3rd quarter. State Street Corp now owns 896,795 shares of the company’s stock valued at $38,141,000 after acquiring an additional 3,463 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Sphere Entertainment by 5.3% in the 3rd quarter. Systematic Financial Management LP now owns 891,493 shares of the company’s stock valued at $37,915,000 after acquiring an additional 45,261 shares during the last quarter. Carnegie Investment Counsel increased its holdings in shares of Sphere Entertainment by 35.1% in the 4th quarter. Carnegie Investment Counsel now owns 225,860 shares of the company’s stock valued at $9,107,000 after acquiring an additional 58,640 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. increased its holdings in shares of Sphere Entertainment by 2.5% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 192,144 shares of the company’s stock valued at $7,747,000 after acquiring an additional 4,643 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPHR shares. Macquarie lowered their price target on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Finally, Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.75.

Sphere Entertainment Price Performance

Shares of SPHR opened at $32.05 on Friday. The company has a market cap of $1.15 billion, a P/E ratio of -3.05 and a beta of 1.39. The stock has a fifty day moving average price of $41.56 and a 200 day moving average price of $41.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. Sphere Entertainment Co. has a 12 month low of $30.62 and a 12 month high of $50.88.

Insider Buying and Selling

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 25.08% of the stock is owned by company insiders.

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.