Sphere Entertainment Co. (NYSE:SPHR) Receives $44.13 Consensus Target Price from Brokerages

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned an average rating of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.67.

SPHR has been the subject of several research reports. Guggenheim restated a “buy” rating and set a $69.00 price objective on shares of Sphere Entertainment in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price target on shares of Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective 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. The Goldman Sachs Group set a $36.00 target price on Sphere Entertainment and gave the stock a “buy” rating in a report on Friday, April 18th. Finally, Susquehanna started coverage on Sphere Entertainment in a report on Monday. They issued a “positive” rating and a $37.00 target price on the stock.

Insider Transactions at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction on Monday, March 10th. The stock was sold at an average price of $33.80, for a total transaction of $1,872,013.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.08% of the stock is currently owned by insiders.

Institutional Trading of Sphere Entertainment

Institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Sphere Entertainment by 295.6% in the third quarter. Barclays PLC now owns 66,045 shares of the company’s stock worth $2,809,000 after buying an additional 49,351 shares during the last quarter. Geode Capital Management LLC boosted its position in Sphere Entertainment by 2.7% during the third quarter. Geode Capital Management LLC now owns 938,463 shares of the company’s stock worth $39,921,000 after purchasing an additional 24,772 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Sphere Entertainment in the third quarter valued at approximately $242,000. Tidal Investments LLC acquired a new stake in shares of Sphere Entertainment in the third quarter worth $225,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Sphere Entertainment in the third quarter worth $788,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Trading Down 4.5 %

NYSE:SPHR opened at $28.22 on Wednesday. The business has a fifty day moving average of $32.08 and a 200-day moving average of $38.90. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -2.69 and a beta of 1.48. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $50.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56.

About Sphere Entertainment

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.