Sphere Entertainment (NYSE:SPHR) Trading Down 0.1% – Time to Sell?

Sphere Entertainment Co. (NYSE:SPHR) shares fell 0.1% on Wednesday . The company traded as low as $32.44 and last traded at $32.93. 68,365 shares traded hands during trading, a decline of 91% from the average session volume of 767,226 shares. The stock had previously closed at $32.97.

Wall Street Analyst Weigh In

SPHR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. The Goldman Sachs Group raised shares of Sphere Entertainment to a “strong-buy” rating in a research note on Thursday, March 27th. Finally, Macquarie decreased their price target on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.75.

Sphere Entertainment Stock Performance

The company has a market cap of $1.21 billion, a price-to-earnings ratio of -3.21 and a beta of 1.39. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $40.39 and its 200 day moving average price is $41.28.

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 dated 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 document filed with the Securities & Exchange Commission, which is available through this link. 25.08% of the stock is currently owned by company insiders.

Institutional Trading of Sphere Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of SPHR. Jefferies Financial Group Inc. acquired a new stake in Sphere Entertainment in the 4th quarter valued at $202,000. Putney Financial Group LLC purchased a new stake in shares of Sphere Entertainment in the fourth quarter worth about $257,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Sphere Entertainment in the fourth quarter valued at about $93,000. Poehling Capital Management INC. raised its holdings in shares of Sphere Entertainment by 104.1% during the 4th quarter. Poehling Capital Management INC. now owns 35,839 shares of the company’s stock valued at $1,445,000 after buying an additional 18,280 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sphere Entertainment by 14.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,330 shares of the company’s stock worth $1,868,000 after acquiring an additional 5,849 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.