Sphere Entertainment Co. (NYSE:SPHR) Stock Position Lifted by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its holdings in Sphere Entertainment Co. (NYSE:SPHR) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,408 shares of the company’s stock after purchasing an additional 4,680 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.17% of Sphere Entertainment worth $2,476,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Commonwealth Equity Services LLC grew its stake in shares of Sphere Entertainment by 10.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company’s stock worth $299,000 after purchasing an additional 721 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Sphere Entertainment in the fourth quarter worth $11,286,000. OFI Invest Asset Management bought a new position in shares of Sphere Entertainment in the fourth quarter worth $306,000. Raymond James Financial Inc. bought a new position in shares of Sphere Entertainment in the fourth quarter worth $2,656,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Sphere Entertainment by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 224,282 shares of the company’s stock valued at $9,043,000 after buying an additional 4,490 shares during the period. Institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Benchmark restated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. JPMorgan Chase & Co. cut their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Finally, Macquarie cut their price objective on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.75.

Sphere Entertainment Trading Up 2.2 %

Shares of NYSE SPHR opened at $31.63 on Monday. Sphere Entertainment Co. has a 12 month low of $30.62 and a 12 month high of $50.88. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -3.01 and a beta of 1.39. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $42.53 and a 200-day simple moving average of $42.20.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.08% of the stock is currently owned by company insiders.

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.