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

Sphere Entertainment Co. (NYSE:SPHR) has been assigned an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $35.60.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price 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. Wolfe Research began coverage on Sphere Entertainment in a report on Wednesday, January 17th. They issued a “peer perform” rating for the company. Bank of America began coverage on Sphere Entertainment in a report on Wednesday, February 7th. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, Seaport Res Ptn downgraded shares of Sphere Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, April 8th.

Insider Activity

In other news, CEO James Lawrence Dolan bought 76,139 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $40.73 per share, with a total value of $3,101,141.47. Following the completion of the transaction, the chief executive officer now directly owns 520,039 shares of the company’s stock, valued at approximately $21,181,188.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrea Greenberg sold 12,131 shares of the company’s 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 transaction, the chief executive officer now owns 76,650 shares in the company, valued at $3,909,150. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James Lawrence Dolan bought 76,139 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $40.73 per share, with a total value of $3,101,141.47. Following the completion of the purchase, the chief executive officer now directly owns 520,039 shares in the company, valued at $21,181,188.47. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 245,669 shares of company stock worth $10,706,120. Corporate insiders own 24.46% of the company’s stock.

Institutional Investors Weigh In On Sphere Entertainment

Large investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new stake in shares of Sphere Entertainment in the 3rd quarter valued at $25,000. National Bank of Canada FI purchased a new stake in Sphere Entertainment in the fourth quarter valued at $46,000. Citigroup Inc. acquired a new stake in Sphere Entertainment during the 3rd quarter worth about $59,000. Quest Partners LLC purchased a new position in shares of Sphere Entertainment during the 4th quarter valued at about $61,000. Finally, Investors Research Corp acquired a new position in shares of Sphere Entertainment in the 3rd quarter valued at about $80,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Performance

Sphere Entertainment stock opened at $40.72 on Tuesday. Sphere Entertainment has a 1-year low of $20.68 and a 1-year high of $51.83. The company’s 50-day moving average is $44.47 and its 200 day moving average is $38.24. The firm has a market capitalization of $1.43 billion, a P/E ratio of 3.85 and a beta of 1.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.63 and a quick ratio of 0.63.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings results on Monday, February 5th. The company reported ($4.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). The business had revenue of $314.16 million for the quarter, compared to the consensus estimate of $303.28 million. Sphere Entertainment had a return on equity of 8.91% and a net margin of 40.36%. Sphere Entertainment’s revenue was up 96.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 earnings per share. Research analysts forecast that Sphere Entertainment will post -3.89 EPS for the current year.

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.