Sphere Entertainment Co. (NYSE:SPHR) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Sphere Entertainment Co. (NYSE:SPHR) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,282 shares of the company’s stock after purchasing an additional 4,490 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of Sphere Entertainment worth $9,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock worth $67,000 after purchasing an additional 912 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $187,000. ArrowMark Colorado Holdings LLC purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $219,000. Tidal Investments LLC purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $225,000. Finally, Captrust Financial Advisors purchased a new stake in Sphere Entertainment during the 3rd quarter worth about $227,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $33.80, for a total transaction of $1,872,013.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 25.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPHR shares. JPMorgan Chase & Co. dropped their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. Macquarie lowered their price target on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Benchmark restated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.75.

Sphere Entertainment Stock Performance

Sphere Entertainment stock opened at $32.05 on Friday. The stock’s 50 day moving average price is $41.56 and its 200 day moving average price is $41.74. The firm has a market capitalization of $1.15 billion, a PE ratio of -3.05 and a beta of 1.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment Co. has a one year low of $30.62 and a one year high of $50.88.

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.