Squarepoint Ops LLC Sells 89,671 Shares of Sphere Entertainment Co. $SPHR

Squarepoint Ops LLC reduced its position in Sphere Entertainment Co. (NYSE:SPHR) by 37.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,485 shares of the company’s stock after selling 89,671 shares during the quarter. Squarepoint Ops LLC owned about 0.42% of Sphere Entertainment worth $6,290,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPHR. Ariel Investments LLC boosted its holdings in Sphere Entertainment by 12.7% in the 2nd quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock valued at $296,790,000 after purchasing an additional 802,098 shares during the period. Holocene Advisors LP boosted its stake in Sphere Entertainment by 23.2% during the second quarter. Holocene Advisors LP now owns 760,160 shares of the company’s stock valued at $31,775,000 after buying an additional 142,997 shares during the period. Geode Capital Management LLC increased its stake in Sphere Entertainment by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock worth $27,175,000 after acquiring an additional 9,746 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Sphere Entertainment by 132.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after acquiring an additional 357,794 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Sphere Entertainment by 1.7% during the second quarter. Gabelli Funds LLC now owns 563,139 shares of the company’s stock worth $23,539,000 after purchasing an additional 9,500 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 0.7%

Shares of NYSE:SPHR opened at $89.80 on Monday. The stock has a market capitalization of $3.17 billion, a P/E ratio of -17.37 and a beta of 1.79. The stock’s 50-day moving average price is $73.18 and its 200-day moving average price is $55.35. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $93.49.

Wall Street Analyst Weigh In

SPHR has been the topic of a number of recent analyst reports. Guggenheim raised their target price on shares of Sphere Entertainment from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group raised their price objective on shares of Sphere Entertainment from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Morgan Stanley upped their target price on shares of Sphere Entertainment from $40.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, October 8th. Finally, BTIG Research initiated coverage on Sphere Entertainment in a research note on Monday, October 6th. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.25.

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.