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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $65.25.

A number of brokerages have issued reports on SPHR. Guggenheim increased their price target on Sphere Entertainment from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Benchmark increased their target price on Sphere Entertainment from $35.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Morgan Stanley lifted their target price on Sphere Entertainment from $40.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, November 3rd. BTIG Research assumed coverage on Sphere Entertainment in a research note on Monday, October 6th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere Entertainment in a report on Wednesday, October 8th.

Sphere Entertainment Stock Performance

Shares of NYSE SPHR opened at $84.07 on Thursday. The stock has a market cap of $2.97 billion, a PE ratio of -16.26 and a beta of 1.79. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $85.48. The firm has a fifty day moving average price of $71.22 and a 200-day moving average price of $53.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.96 and a quick ratio of 0.96.

Institutional Trading of Sphere Entertainment

Hedge funds have recently bought and sold shares of the stock. Quent Capital LLC purchased a new position in shares of Sphere Entertainment during the third quarter valued at about $30,000. GAMMA Investing LLC grew its holdings in Sphere Entertainment by 95.3% during the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock valued at $31,000 after buying an additional 363 shares in the last quarter. CWM LLC grew its holdings in Sphere Entertainment by 915.3% during the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock valued at $31,000 after buying an additional 659 shares in the last quarter. ORG Partners LLC increased its stake in Sphere Entertainment by 80.1% in the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after acquiring an additional 294 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Sphere Entertainment by 576.6% during the 3rd quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock worth $58,000 after acquiring an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

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.