Barclays PLC Has $5.78 Million Holdings in Sphere Entertainment Co. (NYSE:SPHR)

Barclays PLC trimmed its position in Sphere Entertainment Co. (NYSE:SPHR) by 64.1% in the third quarter, Holdings Channel reports. The fund owned 130,713 shares of the company’s stock after selling 233,516 shares during the quarter. Barclays PLC’s holdings in Sphere Entertainment were worth $5,775,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SPHR. Ariel Investments LLC raised its position in Sphere Entertainment by 8.2% in the second quarter. Ariel Investments LLC now owns 5,538,121 shares of the company’s stock valued at $194,167,000 after purchasing an additional 419,581 shares during the last quarter. State Street Corp increased its stake in shares of Sphere Entertainment by 1.6% in the third quarter. State Street Corp now owns 632,067 shares of the company’s stock valued at $27,925,000 after buying an additional 9,749 shares during the period. Systematic Financial Management LP raised its holdings in Sphere Entertainment by 3.0% in the 3rd quarter. Systematic Financial Management LP now owns 371,164 shares of the company’s stock valued at $16,398,000 after buying an additional 10,862 shares during the last quarter. Millennium Management LLC grew its holdings in Sphere Entertainment by 356.8% during the 2nd quarter. Millennium Management LLC now owns 335,238 shares of the company’s stock worth $11,753,000 after acquiring an additional 261,857 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Sphere Entertainment by 134.4% in the 2nd quarter. Renaissance Technologies LLC now owns 332,435 shares of the company’s stock valued at $11,655,000 after acquiring an additional 190,600 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Trading Up 5.2 %

SPHR opened at $38.70 on Friday. The company has a fifty day moving average price of $41.68 and a two-hundred day moving average price of $41.63. Sphere Entertainment Co. has a 1-year low of $29.70 and a 1-year high of $51.83. The company has a market cap of $1.37 billion, a P/E ratio of -3.69 and a beta of 1.38. 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 (NYSE:SPHR) last issued its earnings results on Tuesday, November 12th. The company reported ($2.95) EPS for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.37. The business had revenue of $227.90 million during the quarter, compared to analyst estimates of $229.86 million. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The firm’s revenue was up 93.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. Analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Guggenheim lifted their price target on shares of Sphere Entertainment from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wolfe Research raised shares of Sphere Entertainment from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Wednesday, October 2nd. Bank of America lowered their target price on shares of Sphere Entertainment from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Tuesday, September 17th. Macquarie cut their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, Benchmark reissued a “sell” rating and issued a $40.00 price objective on shares of Sphere Entertainment in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.43.

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.