Sphere Entertainment (NYSE:SPHR) Stock Rating Upgraded by Wall Street Zen

Sphere Entertainment (NYSE:SPHR) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

SPHR has been the topic of several other reports. Citigroup reissued a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday, October 6th. Wells Fargo & Company set a $200.00 price target on Sphere Entertainment in a research report on Tuesday, October 6th. BTIG Research dropped their price target on Sphere Entertainment from $190.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. New Street Research set a $188.00 price objective on Sphere Entertainment in a research report on Tuesday, July 14th. Finally, Morgan Stanley reduced their price objective on Sphere Entertainment from $170.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 27th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $160.93.

Sphere Entertainment Stock Down 4.1%

Shares of Sphere Entertainment stock opened at $104.68 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.32. Sphere Entertainment has a 1-year low of $64.00 and a 1-year high of $181.63. The firm’s 50-day moving average price is $127.96 and its two-hundred day moving average price is $130.13.

Institutional Trading of Sphere Entertainment

Several hedge funds have recently modified their holdings of SPHR. Commonwealth Equity Services LLC lifted its holdings in Sphere Entertainment by 5.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,323 shares of the company’s stock worth $447,000 after buying an additional 164 shares in the last quarter. Covestor Ltd boosted its position in Sphere Entertainment by 5.4% in the 3rd quarter. Covestor Ltd now owns 3,225 shares of the company’s stock valued at $433,000 after buying an additional 166 shares during the last quarter. Putney Financial Group LLC increased its stake in shares of Sphere Entertainment by 2.9% in the 3rd quarter. Putney Financial Group LLC now owns 4,192 shares of the company’s stock valued at $564,000 after buying an additional 117 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $70,000. Finally, LJI Wealth Management LLC acquired a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $524,000. 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.