65,879 Shares in Sphere Entertainment Co. (NYSE:SPHR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Sphere Entertainment Co. (NYSE:SPHR) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 65,879 shares of the company’s stock, valued at approximately $2,656,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of Sphere Entertainment by 149.5% during 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in Sphere Entertainment during the 3rd quarter valued at approximately $187,000. Tidal Investments LLC purchased a new stake in Sphere Entertainment in the 3rd quarter worth approximately $225,000. ArrowMark Colorado Holdings LLC purchased a new stake in Sphere Entertainment in the 3rd quarter worth approximately $219,000. Finally, Captrust Financial Advisors bought a new stake in shares of Sphere Entertainment in the 3rd quarter worth approximately $227,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPHR. Benchmark restated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Finally, Macquarie dropped their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.75.

Insider Buying and Selling

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 value of $1,872,013.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.08% of the stock is owned by company insiders.

Sphere Entertainment Stock Performance

Shares of Sphere Entertainment stock opened at $33.23 on Friday. Sphere Entertainment Co. has a 12 month low of $30.62 and a 12 month high of $50.88. The firm has a market capitalization of $1.19 billion, a P/E ratio of -3.16 and a beta of 1.39. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $40.74 and a two-hundred day simple moving average of $41.41.

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.