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

Sphere Entertainment Co. (NYSE:SPHR) has been given a consensus recommendation of “Hold” by the nine research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $45.67.

Several brokerages have recently weighed in on SPHR. Guggenheim restated a “buy” rating and set a $69.00 target price on shares of Sphere Entertainment in a research note on Wednesday, April 23rd. The Goldman Sachs Group set a $36.00 target price on Sphere Entertainment and gave the company a “buy” rating in a research note on Friday, April 18th. Susquehanna initiated coverage on Sphere Entertainment in a research note on Monday. They set a “positive” rating and a $37.00 target price for the company. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price target 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.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in Sphere Entertainment by 3.8% during the 4th quarter. US Bancorp DE now owns 7,511 shares of the company’s stock worth $303,000 after buying an additional 276 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Sphere Entertainment by 5.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company’s stock worth $401,000 after purchasing an additional 500 shares in the last quarter. Boyar Asset Management Inc. grew its stake in shares of Sphere Entertainment by 1.2% in the fourth quarter. Boyar Asset Management Inc. now owns 44,457 shares of the company’s stock worth $1,793,000 after purchasing an additional 542 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Sphere Entertainment by 108.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock worth $53,000 after purchasing an additional 681 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Sphere Entertainment by 2.8% in the fourth quarter. Legal & General Group Plc now owns 26,678 shares of the company’s stock worth $1,076,000 after purchasing an additional 720 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Stock Down 4.5 %

Shares of Sphere Entertainment stock opened at $28.22 on Wednesday. The business has a 50-day moving average of $32.08 and a 200-day moving average of $38.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $1.01 billion, a PE 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.

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.