Macquarie Lowers Sphere Entertainment (NYSE:SPHR) Price Target to $40.00

Sphere Entertainment (NYSE:SPHR) had its price target dropped by investment analysts at Macquarie from $45.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s price target would suggest a potential upside of 22.53% from the stock’s current price.

A number of other research firms have also commented on SPHR. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. JPMorgan Chase & Co. decreased their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Morgan Stanley cut their price target on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Guggenheim lowered their target price on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Sphere Entertainment presently has an average rating of “Hold” and an average target price of $46.75.

Sphere Entertainment Stock Down 0.4 %

NYSE SPHR traded down $0.14 on Tuesday, reaching $32.65. The company had a trading volume of 353,050 shares, compared to its average volume of 770,023. Sphere Entertainment has a 52-week low of $32.10 and a 52-week high of $50.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $43.30 and its 200 day moving average is $42.70. The stock has a market capitalization of $1.15 billion, a P/E ratio of -3.10 and a beta of 1.39.

Institutional Trading of Sphere Entertainment

Several large investors have recently modified their holdings of SPHR. Sterling Capital Management LLC increased its stake in Sphere Entertainment by 826.1% in the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock worth $34,000 after purchasing an additional 760 shares in the last quarter. Ancora Advisors LLC bought a new position in Sphere Entertainment in the 4th quarter valued at $40,000. Tower Research Capital LLC TRC boosted its holdings in Sphere Entertainment by 108.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock worth $53,000 after buying an additional 681 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Sphere Entertainment by 149.5% in the fourth quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after buying an additional 912 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Sphere Entertainment in the 4th quarter valued at $93,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.