TCW Group Inc. Sells 673 Shares of Sphere Entertainment Co. (NYSE:SPHR)

TCW Group Inc. cut its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,510 shares of the company’s stock after selling 673 shares during the quarter. TCW Group Inc.’s holdings in Sphere Entertainment were worth $464,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPHR. FMR LLC raised its holdings in Sphere Entertainment by 76.3% during the 3rd quarter. FMR LLC now owns 110,035 shares of the company’s stock valued at $4,680,000 after buying an additional 47,635 shares during the period. Principal Financial Group Inc. bought a new position in shares of Sphere Entertainment during the 3rd quarter worth $788,000. Entropy Technologies LP boosted its position in Sphere Entertainment by 108.6% during the fourth quarter. Entropy Technologies LP now owns 13,816 shares of the company’s stock valued at $557,000 after purchasing an additional 7,194 shares in the last quarter. SG Americas Securities LLC boosted its position in Sphere Entertainment by 101.6% during the fourth quarter. SG Americas Securities LLC now owns 11,504 shares of the company’s stock valued at $464,000 after purchasing an additional 5,799 shares in the last quarter. Finally, Zacks Investment Management boosted its position in Sphere Entertainment by 15.3% during the third quarter. Zacks Investment Management now owns 111,687 shares of the company’s stock valued at $4,750,000 after purchasing an additional 14,812 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sphere Entertainment Stock Performance

NYSE SPHR opened at $45.02 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -4.29 and a beta of 1.39. The company has a 50 day moving average of $43.12 and a 200-day moving average of $43.16. Sphere Entertainment Co. has a 1-year low of $32.10 and a 1-year high of $51.83.

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.