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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been given an average rating of “Hold” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $35.60.

A number of brokerages have weighed in on SPHR. Seaport Res Ptn downgraded shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday. Bank of America assumed coverage on shares of Sphere Entertainment in a research report on Wednesday, February 7th. They set a “neutral” rating and a $43.00 price target for the company. Wolfe Research assumed coverage on shares of Sphere Entertainment in a research report on Wednesday, January 17th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Sphere Entertainment from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th.

Insider Buying and Selling at Sphere Entertainment

In other Sphere Entertainment news, CEO James Lawrence Dolan acquired 110,156 shares of the business’s stock in a transaction on Monday, March 4th. The stock was bought at an average price of $46.88 per share, for a total transaction of $5,164,113.28. Following the acquisition, the chief executive officer now owns 630,195 shares in the company, valued at $29,543,541.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Sphere Entertainment news, CEO James Lawrence Dolan acquired 110,156 shares of the business’s stock in a transaction on Monday, March 4th. The stock was bought at an average price of $46.88 per share, for a total transaction of $5,164,113.28. Following the acquisition, the chief executive officer now owns 630,195 shares in the company, valued at $29,543,541.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrea Greenberg sold 12,131 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $51.00, for a total transaction of $618,681.00. Following the completion of the sale, the chief executive officer now owns 76,650 shares of the company’s stock, valued at approximately $3,909,150. The disclosure for this sale can be found here. In the last quarter, insiders acquired 245,669 shares of company stock worth $10,706,120. Insiders own 24.46% of the company’s stock.

Institutional Trading of Sphere Entertainment

Hedge funds have recently bought and sold shares of the business. Radnor Capital Management LLC grew its stake in shares of Sphere Entertainment by 4.2% in the 1st quarter. Radnor Capital Management LLC now owns 22,845 shares of the company’s stock valued at $1,121,000 after buying an additional 925 shares during the period. O Keefe Stevens Advisory Inc. grew its stake in shares of Sphere Entertainment by 1.5% in the 1st quarter. O Keefe Stevens Advisory Inc. now owns 166,701 shares of the company’s stock valued at $8,182,000 after buying an additional 2,383 shares during the period. Vanguard Group Inc. grew its stake in shares of Sphere Entertainment by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 2,789,782 shares of the company’s stock valued at $94,741,000 after buying an additional 100,311 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Sphere Entertainment by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,717,858 shares of the company’s stock valued at $58,340,000 after buying an additional 38,594 shares during the period. Finally, Barclays PLC grew its stake in shares of Sphere Entertainment by 52.1% in the 4th quarter. Barclays PLC now owns 127,587 shares of the company’s stock valued at $4,333,000 after buying an additional 43,695 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Trading Down 1.3 %

Shares of Sphere Entertainment stock opened at $44.16 on Friday. The firm has a 50-day simple moving average of $44.49 and a two-hundred day simple moving average of $37.94. The company has a market cap of $1.55 billion, a P/E ratio of 4.17 and a beta of 1.40. Sphere Entertainment has a fifty-two week low of $20.68 and a fifty-two week high of $51.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.63 and a current ratio of 0.63.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Monday, February 5th. The company reported ($4.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). The firm had revenue of $314.16 million during the quarter, compared to analyst estimates of $303.28 million. Sphere Entertainment had a return on equity of 8.91% and a net margin of 40.36%. The company’s revenue was up 96.9% on a year-over-year basis. During the same quarter last year, the company posted $2.25 EPS. As a group, equities analysts predict that Sphere Entertainment will post -3.88 earnings per share for the current fiscal year.

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.