Steve Cohen Sells 85% of His Stake in Dolan’s Vegas Sphere

Point72 slashes Sphere Entertainment stake as stock rallies more than 200%

Steve Cohen’s Point72 Asset Management has sharply reduced its exposure to Sphere Entertainment, unloading roughly 85% of its position as the stock surged this year, according a report by Sportico citing a recent SEC regulatory filing. The multi-strategy hedge fund sold about 1.3 million shares over the six months to 30 September, leaving it with just 223,464 shares – a drop from a 5.3% stake in March to 0.8% today. Point72 had built its Sphere …

Steve Cohen Sells 85% of His Stake in Dolan’s Vegas Sphere

New York Mets owner Steve Cohen’s hedge fund sold almost its entire position in Sphere Entertainment as the stock soared, according to a Friday SEC filing. Cohen’s fund, Point72 Asset Management, sold 1.3 million shares, or 85% of its stake, over the six months ending Sept. 30, and now holds 223,464 shares. It represents 0.8% […]