Sphere Entertainment Co. (NYSE:SPHR) Receives Average Rating of “Hold” from Brokerages

Sphere Entertainment Co. (NYSE:SPHR) has been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $47.75.

A number of analysts recently commented on the company. Morgan Stanley decreased their price objective on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Guggenheim reduced their price target on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Macquarie reduced their price target on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th.

Sphere Entertainment Trading Up 2.0 %

Shares of NYSE:SPHR traded up $0.74 during trading on Tuesday, reaching $38.43. 1,601,689 shares of the company traded hands, compared to its average volume of 704,020. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.66 and a beta of 1.39. Sphere Entertainment has a 52-week low of $32.10 and a 52-week high of $51.83. 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 business’s fifty day moving average is $43.53 and its 200-day moving average is $43.14.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its holdings 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 shares of Sphere Entertainment during the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC increased its position in shares of Sphere Entertainment by 108.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock valued at $53,000 after purchasing an additional 681 shares during the last quarter. Blue Trust Inc. increased its position in shares of Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after purchasing an additional 912 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Sphere Entertainment during the 4th quarter valued at approximately $93,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

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.