Handelsbanken Fonder AB Sells 600 Shares of Sphere Entertainment Co. $SPHR

Handelsbanken Fonder AB decreased its position in shares of Sphere Entertainment Co. (NYSE:SPHR) by 9.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,700 shares of the company’s stock after selling 600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sphere Entertainment were worth $238,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ariel Investments LLC boosted its position in shares of Sphere Entertainment by 9.6% during the first quarter. Ariel Investments LLC now owns 6,298,139 shares of the company’s stock worth $206,075,000 after purchasing an additional 553,947 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Sphere Entertainment by 132.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after purchasing an additional 357,794 shares in the last quarter. Deutsche Bank AG grew its position in shares of Sphere Entertainment by 292.8% in the 1st quarter. Deutsche Bank AG now owns 448,729 shares of the company’s stock valued at $14,682,000 after purchasing an additional 334,500 shares during the period. Northern Trust Corp increased its stake in Sphere Entertainment by 41.2% during the 1st quarter. Northern Trust Corp now owns 523,839 shares of the company’s stock worth $17,140,000 after purchasing an additional 152,893 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in Sphere Entertainment during the 1st quarter worth approximately $2,325,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPHR. BTIG Research began coverage on shares of Sphere Entertainment in a report on Monday, October 6th. They issued a “neutral” rating for the company. Morgan Stanley increased their target price on Sphere Entertainment from $40.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Sphere Entertainment from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group increased their price objective on Sphere Entertainment from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.88.

Sphere Entertainment Trading Up 1.9%

Shares of Sphere Entertainment stock opened at $84.49 on Monday. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $84.78. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $68.32 and its 200-day moving average is $52.04. The stock has a market cap of $2.98 billion, a P/E ratio of -16.34 and a beta of 1.79.

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.