Insider Sale Alert: Sphere Entertainment Co [SPHR] – Is it Time to sell?

In a filing, Sphere Entertainment Co revealed its President/CEO-MSG Networks GREENBERG ANDREA unloaded Company’s shares for reported $0.62 million on Mar 08 ’24. In the deal valued at $51.00 per share,12,131 shares were sold. As a result of this transaction, GREENBERG ANDREA now holds 76,650 shares worth roughly $3.77 million.

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Then, DOLAN JAMES LAWRENCE bought 110,156 shares, generating $5,164,270 in total proceeds. Upon buying the shares at $46.88, the Executive Chairman / CEO now owns 630,195 shares.

Before that, DOLAN JAMES LAWRENCE bought 76,139 shares. Sphere Entertainment Co shares valued at $3,100,935 were divested by the Executive Chairman / CEO at a price of $40.73 per share. As a result of the transaction, DOLAN JAMES LAWRENCE now holds 520,039 shares, worth roughly $25.57 million.

BofA Securities initiated its Sphere Entertainment Co [SPHR] rating to a Neutral in a research note published on February 07, 2024; the price target was $43. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in mid January with a ‘”a Peer perform”‘ rating. Seaport Research Partners also remained covering SPHR and has increased its forecast on December 07, 2023 with a “Buy” recommendation from previously “Neutral” rating. Guggenheim revised its rating on December 06, 2023. It rated SPHR as “a Buy” which previously was an “a Neutral”.

Price Performance Review of SPHR

On Monday, Sphere Entertainment Co [NYSE:SPHR] saw its stock jump 0.16% to $49.16. Over the last five days, the stock has gained 7.67%. Sphere Entertainment Co shares have risen nearly 44.76% since the year began. Nevertheless, the stocks have risen 91.16% over the past one year. While a 52-week high of $51.83 was reached on 03/08/24, a 52-week low of $20.68 was recorded on 01/17/24. SMA at 50 days reached $42.12, while 200 days put it at $36.69. A total of 0.84 million shares were traded, compared to the trading of 0.46 million shares in the previous session.

Levels Of Support And Resistance For SPHR Stock

The 24-hour chart illustrates a support level at 48.36, which if violated will result in even more drops to 47.55. On the upside, there is a resistance level at 50.21. A further resistance level may holdings at 51.25. The Relative Strength Index (RSI) on the 14-day chart is 64.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.76, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.98%. Stochastics %K at 85.89% indicates the stock is a selling.

How much short interest is there in Sphere Entertainment Co?

A steep rise in short interest was recorded in Sphere Entertainment Co stocks on Mar 15, 2024, dropping by -0.29 million shares to a total of 6.02 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 6.31 million shares. There was a decline of -4.82%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 27.51% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.56.

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