J. Goldman & Co LP Acquires 20,799 Shares of Sphere Entertainment Co. (NYSE:SPHR)

J. Goldman & Co LP grew its position in Sphere Entertainment Co. (NYSE:SPHR) by 20.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,405 shares of the company’s stock after acquiring an additional 20,799 shares during the quarter. J. Goldman & Co LP’s holdings in Sphere Entertainment were worth $4,895,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ariel Investments LLC lifted its position in shares of Sphere Entertainment by 7.4% during the 4th quarter. Ariel Investments LLC now owns 5,744,192 shares of the company’s stock worth $231,606,000 after buying an additional 394,050 shares during the period. Vanguard Group Inc. lifted its position in shares of Sphere Entertainment by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company’s stock worth $112,689,000 after buying an additional 29,402 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Sphere Entertainment by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,465,363 shares of the company’s stock worth $59,084,000 after buying an additional 9,837 shares during the period. Geode Capital Management LLC lifted its position in shares of Sphere Entertainment by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 617,437 shares of the company’s stock worth $24,901,000 after buying an additional 4,429 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Sphere Entertainment by 5.9% during the 4th quarter. Northern Trust Corp now owns 370,946 shares of the company’s stock worth $14,957,000 after buying an additional 20,613 shares during the period. Institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SPHR shares. Guggenheim raised their target price on Sphere Entertainment from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group set a $36.00 price target on Sphere Entertainment and gave the company a “buy” rating in a report on Friday, April 18th. JPMorgan Chase & Co. dropped their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Morgan Stanley dropped their price target on Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, Susquehanna initiated coverage on Sphere Entertainment in a report on Monday, April 28th. They set a “positive” rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Sphere Entertainment has an average rating of “Hold” and an average target price of $46.22.

Sphere Entertainment Price Performance

NYSE:SPHR opened at $32.50 on Monday. 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 stock’s 50 day moving average price is $29.96 and its two-hundred day moving average price is $37.89. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3.10 and a beta of 1.51. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Thursday, May 8th. The company reported ($2.27) EPS for the quarter, beating the consensus estimate of ($2.48) by $0.21. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The company had revenue of $280.57 million for the quarter, compared to the consensus estimate of $285.01 million. During the same quarter in the prior year, the business earned ($1.33) earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts anticipate that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

Insider Buying and Selling

In other Sphere Entertainment 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.