Barclays PLC Has $11.73 Million Stock Position in Sphere Entertainment Co. (NYSE:SPHR)

Barclays PLC lifted its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 122.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 291,017 shares of the company’s stock after purchasing an additional 160,304 shares during the period. Barclays PLC’s holdings in Sphere Entertainment were worth $11,734,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in Sphere Entertainment by 826.1% during the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock worth $34,000 after buying an additional 760 shares during the period. Blue Trust Inc. lifted its stake in shares of Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock worth $67,000 after acquiring an additional 912 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Sphere Entertainment in the third quarter valued at approximately $187,000. Tidal Investments LLC acquired a new stake in Sphere Entertainment during the 3rd quarter valued at approximately $225,000. Finally, Concurrent Investment Advisors LLC raised its holdings in Sphere Entertainment by 18.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 5,793 shares of the company’s stock worth $234,000 after purchasing an additional 893 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Trading Down 4.3 %

Shares of Sphere Entertainment stock opened at $24.29 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment Co. has a 52 week low of $23.89 and a 52 week high of $50.88. The stock has a 50 day moving average price of $34.55 and a two-hundred day moving average price of $39.56. The stock has a market capitalization of $869.41 million, a PE ratio of -2.31 and a beta of 1.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. JPMorgan Chase & Co. decreased 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. Macquarie dropped their price objective on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. The Goldman Sachs Group set a $36.00 target price on Sphere Entertainment and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley dropped their price target on Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.13.

Insider Buying and Selling at Sphere Entertainment

In other Sphere Entertainment 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 25.08% of the stock is currently 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.