Sphere Entertainment Co. (NYSE:SPHR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Sphere Entertainment Co. (NYSE:SPHR) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $94.3846.

Several brokerages recently weighed in on SPHR. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $98.00 price target on shares of Sphere Entertainment in a research note on Tuesday, January 6th. Morgan Stanley raised shares of Sphere Entertainment from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $105.00 in a research report on Thursday, December 18th. National Bankshares set a $136.00 price target on shares of Sphere Entertainment in a research note on Thursday, January 22nd. Bank of America boosted their price objective on shares of Sphere Entertainment from $48.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Finally, Guggenheim upped their price objective on shares of Sphere Entertainment to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd.

Sphere Entertainment Stock Up 2.1%

SPHR stock opened at $96.34 on Friday. Sphere Entertainment has a fifty-two week low of $23.89 and a fifty-two week high of $101.89. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -18.63 and a beta of 1.71. The business’s 50 day moving average price is $90.76 and its two-hundred day moving average price is $67.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Sphere Entertainment by 5.5% in the first quarter. Royal Bank of Canada now owns 150,614 shares of the company’s stock worth $4,928,000 after acquiring an additional 7,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Sphere Entertainment by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock valued at $532,000 after acquiring an additional 831 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Sphere Entertainment by 132.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after purchasing an additional 357,794 shares during the last quarter. GAMMA Investing LLC boosted its stake in Sphere Entertainment by 95.3% in the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock worth $31,000 after purchasing an additional 363 shares in the last quarter. Finally, North Star Investment Management Corp. grew its position in Sphere Entertainment by 4.7% during the 2nd quarter. North Star Investment Management Corp. now owns 140,615 shares of the company’s stock valued at $5,878,000 after purchasing an additional 6,310 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

About Sphere Entertainment

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.