Handelsbanken Fonder AB Takes $254,000 Position in Sphere Entertainment Co. (NYSE:SPHR)

Handelsbanken Fonder AB acquired a new stake in shares of Sphere Entertainment Co. (NYSE:SPHR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,300 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors also recently bought and sold shares of SPHR. Blue Trust Inc. grew its stake 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 purchasing an additional 912 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Sphere Entertainment by 46.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,560 shares of the company’s stock worth $111,000 after acquiring an additional 810 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Sphere Entertainment during the 3rd quarter worth approximately $187,000. Concurrent Investment Advisors LLC purchased a new stake in Sphere Entertainment during the third quarter valued at approximately $216,000. Finally, Tidal Investments LLC acquired a new stake in Sphere Entertainment in the third quarter valued at approximately $225,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Sphere Entertainment Stock Down 13.6 %

Sphere Entertainment stock opened at $37.69 on Tuesday. The business’s 50-day simple moving average is $43.53 and its two-hundred day simple moving average is $43.14. The company has a market cap of $1.33 billion, a PE ratio of -3.59 and a beta of 1.39. Sphere Entertainment Co. has a fifty-two week low of $32.10 and a fifty-two week high of $51.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPHR. Guggenheim reduced their price target on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Morgan Stanley reduced their target price on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Macquarie lowered their price target on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.75.

Sphere Entertainment 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.