Sphere Entertainment (NYSE:SPHR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sphere Entertainment (NYSE:SPHR) from a sell rating to a hold rating in a research note published on Sunday morning,Wall Street Zen reports.

A number of other equities analysts also recently commented on SPHR. Weiss Ratings downgraded Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Susquehanna reduced their target price on shares of Sphere Entertainment from $182.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, October 21st. Wells Fargo & Company set a $200.00 target price on shares of Sphere Entertainment in a research report on Tuesday, October 6th. Citigroup restated a “market outperform” rating on shares of Sphere Entertainment in a research note on Tuesday, October 6th. Finally, BTIG Research cut their price target on shares of Sphere Entertainment from $190.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.93.

Sphere Entertainment Price Performance

SPHR opened at $105.11 on Friday. Sphere Entertainment has a fifty-two week low of $64.00 and a fifty-two week high of $181.63. The business has a 50-day moving average of $126.91 and a 200-day moving average of $130.16. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in shares of Sphere Entertainment by 114.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 871,484 shares of the company’s stock worth $117,162,000 after purchasing an additional 464,609 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Sphere Entertainment by 149.9% in the 1st quarter. Renaissance Technologies LLC now owns 559,935 shares of the company’s stock valued at $65,736,000 after buying an additional 335,900 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Sphere Entertainment by 24.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 523,934 shares of the company’s stock valued at $61,510,000 after buying an additional 104,192 shares during the last quarter. Artemis Investment Management LLP increased its position in Sphere Entertainment by 118.9% in the 3rd quarter. Artemis Investment Management LLP now owns 447,982 shares of the company’s stock worth $60,227,000 after buying an additional 243,376 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Sphere Entertainment by 75.4% in the 1st quarter. Bank of New York Mellon Corp now owns 146,782 shares of the company’s stock worth $17,232,000 after buying an additional 63,080 shares during the period. 92.03% of the stock is owned by institutional investors.

About Sphere Entertainment

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.