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Sphere Entertainment Co [SPHR] Insider Selling: Time to sell?

Sphere Entertainment Co’s recent filing unveils that 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 $2.98 million.

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 $20.21 million.

Seaport Research Partners downgraded its Sphere Entertainment Co [SPHR] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in early February with a ‘”a Neutral”‘ rating. Wolfe Research began covering SPHR with “Peer perform” recommendation on January 17, 2024. Seaport Research Partners revised its rating on December 07, 2023. It rated SPHR as “a Buy” which previously was an “a Neutral”.

Price Performance Review of SPHR

On Tuesday, Sphere Entertainment Co [NYSE:SPHR] saw its stock fall -3.00% to $38.86. Over the last five days, the stock has lost -7.98%. Sphere Entertainment Co shares have risen nearly 14.43% since the year began. Nevertheless, the stocks have risen 38.10% 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 $44.36, while 200 days put it at $38.01. A total of 0.59 million shares were traded, compared to the trading of 0.25 million shares in the previous session.

Levels Of Support And Resistance For SPHR Stock

The 24-hour chart illustrates a support level at 38.30, which if violated will result in even more drops to 37.73. On the upside, there is a resistance level at 39.74. A further resistance level may holdings at 40.62. The Relative Strength Index (RSI) on the 14-day chart is 36.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.87, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.09%. Stochastics %K at 26.79% indicates the stock is a holding.

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