AlphaQuest LLC Sells 8,856 Shares of Sphere Entertainment Co. (NYSE:SPHR)

AlphaQuest LLC lessened its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 68.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,026 shares of the company’s stock after selling 8,856 shares during the quarter. AlphaQuest LLC’s holdings in Sphere Entertainment were worth $162,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SPHR. Principal Financial Group Inc. purchased a new stake in Sphere Entertainment during the 3rd quarter worth approximately $788,000. Victory Capital Management Inc. grew its position in Sphere Entertainment by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 22,438 shares of the company’s stock worth $991,000 after purchasing an additional 271 shares during the last quarter. Quest Partners LLC grew its position in Sphere Entertainment by 98,992.3% during the 3rd quarter. Quest Partners LLC now owns 12,882 shares of the company’s stock worth $569,000 after purchasing an additional 12,869 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Sphere Entertainment during the 3rd quarter worth approximately $320,000. Finally, Charles Schwab Investment Management Inc. grew its position in Sphere Entertainment by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,300 shares of the company’s stock worth $14,218,000 after purchasing an additional 5,575 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 4.1 %

SPHR stock opened at $32.80 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day simple moving average is $42.32 and its 200-day simple moving average is $42.10. Sphere Entertainment Co. has a 12 month low of $30.62 and a 12 month high of $50.88. The company has a market capitalization of $1.17 billion, a P/E ratio of -3.12 and a beta of 1.39.

Insider Activity at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 25.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on SPHR shares. Macquarie dropped their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price 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, Benchmark reaffirmed 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 issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.75.

Sphere Entertainment Company 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.