Sphere Entertainment Co. (NYSE:SPHR) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,968 shares of the company’s stock after selling 665 shares during the period. Voya Investment Management LLC’s holdings in Sphere Entertainment were worth $321,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of Sphere Entertainment by 826.1% in the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock worth $34,000 after purchasing an additional 760 shares during the period. Tower Research Capital LLC TRC raised its holdings in Sphere Entertainment by 108.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock valued at $53,000 after buying an additional 681 shares during the period. Blue Trust Inc. lifted its position in 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 buying an additional 912 shares in the last quarter. Tidal Investments LLC purchased a new stake in Sphere Entertainment during the third quarter worth approximately $225,000. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Sphere Entertainment by 18.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 5,793 shares of the company’s stock valued at $234,000 after acquiring an additional 893 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPHR has been the subject of several recent research reports. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Guggenheim upped their price target on Sphere Entertainment from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. Macquarie dropped their price objective on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their target price on shares of Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Finally, Susquehanna assumed coverage on shares of Sphere Entertainment in a report on Monday, April 28th. They set a “positive” rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.22.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $33.80, for a total value of $1,872,013.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 25.08% of the company’s stock.

Sphere Entertainment Price Performance

Shares of SPHR stock opened at $32.50 on Monday. The firm has a market cap of $1.16 billion, a P/E ratio of -3.10 and a beta of 1.51. The firm has a fifty day moving average of $29.96 and a two-hundred day moving average of $37.89. 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 1-year low of $23.89 and a 1-year high of $50.88.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($2.27) earnings per share for the quarter, beating the consensus estimate of ($2.48) by $0.21. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The firm had revenue of $280.57 million during the quarter, compared to analyst estimates of $285.01 million. During the same period in the previous year, the company earned ($1.33) earnings per share. Sphere Entertainment’s quarterly revenue was down 12.7% on a year-over-year basis. As a group, research analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current fiscal year.

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.