Sphere Entertainment Co. (NYSE:SPHR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.75.

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Macquarie reduced their price target on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Benchmark reaffirmed a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd.

Insider Buying and Selling

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

Institutional Investors Weigh In On Sphere Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of SPHR. FMR LLC raised its holdings in shares of Sphere Entertainment by 76.3% during the third quarter. FMR LLC now owns 110,035 shares of the company’s stock valued at $4,680,000 after acquiring an additional 47,635 shares during the period. Entropy Technologies LP boosted its stake in shares of Sphere Entertainment by 108.6% during the 4th quarter. Entropy Technologies LP now owns 13,816 shares of the company’s stock worth $557,000 after acquiring an additional 7,194 shares in the last quarter. OFI Invest Asset Management acquired a new position in Sphere Entertainment during the fourth quarter valued at approximately $306,000. SG Americas Securities LLC raised its holdings in Sphere Entertainment by 101.6% in the 4th quarter. SG Americas Securities LLC now owns 11,504 shares of the company’s stock worth $464,000 after acquiring an additional 5,799 shares during the period. Finally, Zacks Investment Management lifted its position in shares of Sphere Entertainment by 15.3% during the 3rd quarter. Zacks Investment Management now owns 111,687 shares of the company’s stock worth $4,750,000 after purchasing an additional 14,812 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Trading Down 1.6 %

SPHR stock opened at $33.23 on Friday. The business’s 50-day moving average is $40.74 and its 200 day moving average is $41.40. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -3.16 and a beta of 1.39. Sphere Entertainment has a 12-month low of $30.62 and a 12-month high of $50.88.

Sphere Entertainment Company Profile

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.