HighTower Advisors LLC Sells 29,417 Shares of Sphere Entertainment Co. (NYSE:SPHR)

HighTower Advisors LLC reduced its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 74.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,936 shares of the company’s stock after selling 29,417 shares during the quarter. HighTower Advisors LLC’s holdings in Sphere Entertainment were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after acquiring an additional 912 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sphere Entertainment in the third quarter valued at approximately $187,000. Tidal Investments LLC acquired a new position in shares of Sphere Entertainment in the third quarter valued at $225,000. ArrowMark Colorado Holdings LLC bought a new stake in shares of Sphere Entertainment during the third quarter worth approximately $219,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Sphere Entertainment during the third quarter worth $227,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SPHR shares. Benchmark reissued a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Macquarie decreased 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. Finally, JPMorgan Chase & Co. cut their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.75.

Sphere Entertainment Stock Down 1.6 %

Sphere Entertainment stock opened at $32.69 on Tuesday. Sphere Entertainment Co. has a fifty-two week low of $30.62 and a fifty-two week high of $50.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day simple moving average is $40.56 and its 200 day simple moving average is $41.34. The stock has a market cap of $1.17 billion, a PE ratio of -3.11 and a beta of 1.39.

Insider Activity at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 25.08% of the stock is currently owned by company insiders.

Sphere Entertainment 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.