Rhumbline Advisers Raises Stock Position in Sphere Entertainment Co. (NYSE:SPHR)

Rhumbline Advisers boosted its stake in Sphere Entertainment Co. (NYSE:SPHR) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,392 shares of the company’s stock after purchasing an additional 1,435 shares during the period. Rhumbline Advisers owned approximately 0.13% of Sphere Entertainment worth $1,911,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Entropy Technologies LP increased its position in shares of Sphere Entertainment by 108.6% during the 4th 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 during the last quarter. Empowered Funds LLC increased its holdings in Sphere Entertainment by 5.1% during the fourth quarter. Empowered Funds LLC now owns 179,798 shares of the company’s stock valued at $7,249,000 after buying an additional 8,751 shares during the last quarter. Blue Trust Inc. raised its position in Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock worth $67,000 after acquiring an additional 912 shares during the period. SG Americas Securities LLC boosted its stake in shares of Sphere Entertainment by 101.6% during the 4th quarter. SG Americas Securities LLC now owns 11,504 shares of the company’s stock worth $464,000 after acquiring an additional 5,799 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. grew its position in shares of Sphere Entertainment by 2.5% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 192,144 shares of the company’s stock valued at $7,747,000 after acquiring an additional 4,643 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on SPHR shares. Guggenheim decreased 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. Morgan Stanley reduced their price target on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Macquarie lowered their price objective on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Sphere Entertainment has an average rating of “Hold” and a consensus target price of $47.75.

Sphere Entertainment Stock Performance

NYSE:SPHR opened at $37.69 on Tuesday. The stock has a 50-day moving average price of $43.53 and a 200 day moving average price of $43.14. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment Co. has a 12-month low of $32.10 and a 12-month high of $51.83. The stock has a market capitalization of $1.33 billion, a P/E ratio of -3.59 and a beta of 1.39.

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.