Citadel Advisors Reveals a 5.3% SPHR Stake

The most significant insider buy on today's list comes via a 13G filing by Citadel Advisors LLC.

The investment firm reported an initial stake of 5.30% in Sphere Entertainment Co $SPHR.

Here’s The Hot Corner, with data from July 22, 2024:

The president and CEO of Selective Insurance Group $SIGI revealed the acquisition of 2,400 shares, equivalent to $200,532.

SPHR has been in the base-building process for roughly three years as buyers try to take control and force an upside resolution from this rounding bottom formation:

The line in the sand lies at the 45 level.

A breakout above that zone could send SPHR on a fresh reaction rally toward the old all-time highs.

Stay tuned. We'll be back on Wednesday with more insider activity.

And please reach out with any questions. We love hearing from you!