Horizon Kinetics Asset Management LLC Has $2.48 Million Holdings in Sphere Entertainment Co. (NYSE:SPHR)

Horizon Kinetics Asset Management LLC grew its position in Sphere Entertainment Co. (NYSE:SPHR) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 61,408 shares of the company’s stock after acquiring an additional 4,680 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Sphere Entertainment were worth $2,476,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its position in Sphere Entertainment by 10.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company’s stock worth $299,000 after purchasing an additional 721 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Sphere Entertainment in the 4th quarter worth about $11,286,000. OFI Invest Asset Management acquired a new position in Sphere Entertainment in the 4th quarter worth about $306,000. Raymond James Financial Inc. acquired a new position in Sphere Entertainment in the 4th quarter worth about $2,656,000. Finally, Charles Schwab Investment Management Inc. increased its position in Sphere Entertainment by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 224,282 shares of the company’s stock worth $9,043,000 after purchasing an additional 4,490 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective 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 reissued a “sell” rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Finally, Macquarie lowered their target price on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.75.

Insider Activity at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction on Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 25.08% of the company’s stock.

Sphere Entertainment Price Performance

Shares of SPHR stock opened at $31.63 on Monday. The stock has a 50 day moving average of $42.53 and a two-hundred day moving average of $42.20. 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 Co. has a 12 month low of $30.62 and a 12 month high of $50.88. The company has a market capitalization of $1.13 billion, a P/E ratio of -3.01 and a beta of 1.39.

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.