Wall Street Zen cut shares of Sphere Entertainment (NYSE:SPHR – Free Report) from a hold rating to a sell rating in a research report report published on Monday,Wall Street Zen reports.
SPHR has been the subject of a number of other research reports. Guggenheim dropped their target price on shares of Sphere Entertainment from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Friday. Seaport Research Partners set a $160.00 price target on shares of Sphere Entertainment in a research report on Wednesday, October 7th. Wells Fargo & Company set a $200.00 price objective on shares of Sphere Entertainment in a research note on Tuesday, October 6th. JPMorgan Chase & Co. dropped their price objective on shares of Sphere Entertainment from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Sphere Entertainment from a “hold (c)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.60.
Read Our Latest Analysis on SPHR
Sphere Entertainment Stock Performance
Sphere Entertainment stock opened at $121.12 on Monday. The business has a 50 day simple moving average of $124.01 and a 200 day simple moving average of $130.57. Sphere Entertainment has a one year low of $73.03 and a one year high of $181.63. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22.
Sphere Entertainment (NYSE:SPHR – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($4.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.66) by ($3.18). Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The company had revenue of $274.26 million for the quarter, compared to the consensus estimate of $269.71 million. During the same period in the previous year, the business posted ($2.80) earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Sphere Entertainment will post -2.70 EPS for the current fiscal year.
Institutional Trading of Sphere Entertainment
Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its position in Sphere Entertainment by 114.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 871,484 shares of the company’s stock worth $117,162,000 after buying an additional 464,609 shares in the last quarter. Renaissance Technologies LLC increased its position in Sphere Entertainment by 149.9% in the 1st quarter. Renaissance Technologies LLC now owns 559,935 shares of the company’s stock valued at $65,736,000 after acquiring an additional 335,900 shares in the last quarter. Artemis Investment Management LLP increased its position in Sphere Entertainment by 118.9% in the 3rd quarter. Artemis Investment Management LLP now owns 447,982 shares of the company’s stock valued at $60,227,000 after acquiring an additional 243,376 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Sphere Entertainment in the first quarter worth about $15,196,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Sphere Entertainment by 24.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 523,934 shares of the company’s stock worth $61,510,000 after acquiring an additional 104,192 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.
Sphere Entertainment Company Profile
Sphere Entertainment Co is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications.
MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers.
Sphere Entertainment was formed in 2023 through the separation of businesses from Madison Square Garden Entertainment Corp.
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