Sphere Entertainment Co. (NYSE:SPHR) Given Consensus Recommendation of “Hold” by Brokerages

Sphere Entertainment Co. (NYSE:SPHR) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. One equities research 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 twelve-month price objective among brokerages that have covered the stock in the last year is $47.38.

A number of research firms have recently weighed in on SPHR. Macquarie lowered their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Guggenheim dropped their price target on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley lowered their target price on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Benchmark restated a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th.

Sphere Entertainment Price Performance

Shares of NYSE SPHR opened at $32.93 on Tuesday. Sphere Entertainment has a fifty-two week low of $32.10 and a fifty-two week high of $50.88. The stock has a fifty day moving average of $43.30 and a 200-day moving average of $42.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $1.16 billion, a PE ratio of -3.14 and a beta of 1.39.

Institutional Trading of Sphere Entertainment

Large investors have recently made changes to their positions in the company. Ariel Investments LLC lifted its stake in shares of Sphere Entertainment by 7.4% in the 4th quarter. Ariel Investments LLC now owns 5,744,192 shares of the company’s stock valued at $231,606,000 after purchasing an additional 394,050 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Sphere Entertainment by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company’s stock valued at $112,689,000 after acquiring an additional 29,402 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sphere Entertainment by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,465,363 shares of the company’s stock valued at $59,084,000 after purchasing an additional 9,837 shares during the period. Geode Capital Management LLC lifted its position in Sphere Entertainment by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 938,463 shares of the company’s stock worth $39,921,000 after acquiring an additional 24,772 shares during the period. Finally, Steadfast Capital Management LP lifted its position in Sphere Entertainment by 183.8% during the 4th quarter. Steadfast Capital Management LP now owns 926,100 shares of the company’s stock worth $37,340,000 after acquiring an additional 599,800 shares during the period. 92.03% of the stock is currently 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.