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

Sphere Entertainment Co. (NYSE:SPHR) has been given an average rating of “Hold” by the nine analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $47.38.

Several research analysts have weighed in on the company. Morgan Stanley dropped their target price on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Macquarie cut 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 cut their target price 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. JPMorgan Chase & Co. dropped their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Finally, Benchmark restated a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd.

Hedge Funds Weigh In On Sphere Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new position in shares of Sphere Entertainment during the 4th quarter worth approximately $202,000. Putney Financial Group LLC bought a new stake in shares of Sphere Entertainment during the 4th quarter valued at $257,000. Public Employees Retirement System of Ohio acquired a new position in shares of Sphere Entertainment during the 4th quarter worth $93,000. Poehling Capital Management INC. increased its holdings in Sphere Entertainment by 104.1% in the 4th quarter. Poehling Capital Management INC. now owns 35,839 shares of the company’s stock worth $1,445,000 after purchasing an additional 18,280 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Sphere Entertainment by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,330 shares of the company’s stock valued at $1,868,000 after buying an additional 5,849 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $32.93 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. Sphere Entertainment has a 12 month low of $32.10 and a 12 month high of $50.88. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -3.14 and a beta of 1.39. The stock’s 50 day moving average price is $43.30 and its 200 day moving average price is $42.70.

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.