Trexquant Investment LP Takes $2.17 Million Position in Sphere Entertainment Co. (NYSE:SPHR)

Trexquant Investment LP acquired a new stake in shares of Sphere Entertainment Co. (NYSE:SPHR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 53,894 shares of the company’s stock, valued at approximately $2,173,000. Trexquant Investment LP owned about 0.15% of Sphere Entertainment as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Sphere Entertainment by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 617,437 shares of the company’s stock valued at $24,901,000 after buying an additional 4,429 shares during the last quarter. Alliancebernstein L.P. lifted its position in Sphere Entertainment by 929.8% in the 4th quarter. Alliancebernstein L.P. now owns 285,885 shares of the company’s stock valued at $11,527,000 after acquiring an additional 258,123 shares in the last quarter. Norges Bank purchased a new stake in Sphere Entertainment during the 4th quarter valued at $14,432,000. Vanguard Group Inc. increased its holdings in shares of Sphere Entertainment by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company’s stock worth $112,689,000 after purchasing an additional 29,402 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Sphere Entertainment by 24.6% in the fourth quarter. LPL Financial LLC now owns 26,016 shares of the company’s stock worth $1,049,000 after purchasing an additional 5,135 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SPHR. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Macquarie decreased their price objective on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. The Goldman Sachs Group upgraded shares of Sphere Entertainment to a “strong-buy” rating in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.75.

Insider Activity at Sphere Entertainment

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 SEC, which is accessible through this hyperlink. 25.08% of the stock is owned by company insiders.

Sphere Entertainment Trading Down 4.4 %

Shares of Sphere Entertainment stock opened at $25.98 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $929.94 million, a PE ratio of -2.47 and a beta of 1.48. Sphere Entertainment Co. has a 1-year low of $24.77 and a 1-year high of $50.88. The company’s fifty day simple moving average is $38.47 and its 200-day simple moving average is $40.72.

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.