Sphere Entertainment Co. (NYSE:SPHR) Receives Average Rating of "Hold" from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) have earned an average recommendation of "Hold" from the eight analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $44.13.

Several equities analysts have recently commented on SPHR shares. The Goldman Sachs Group set a $36.00 price target on Sphere Entertainment and gave the company a "buy" rating in a research note on Friday. Morgan Stanley lowered their price objective on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Benchmark restated a "sell" rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Macquarie dropped their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th.

Sphere Entertainment Stock Up 1.8 %

SPHR stock opened at $24.72 on Wednesday. Sphere Entertainment has a one year low of $23.89 and a one year high of $50.88. The firm has a market cap of $884.62 million, a PE ratio of -2.35 and a beta of 1.48. The firm's 50 day moving average price is $34.10 and its 200-day moving average price is $39.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56.

Insiders Place Their Bets

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $33.80, for a total transaction of $1,872,013.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 25.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new stake in Sphere Entertainment during the first quarter worth $225,000. SG Americas Securities LLC grew its stake in Sphere Entertainment by 765.8% in the 1st quarter. SG Americas Securities LLC now owns 99,597 shares of the company's stock valued at $3,259,000 after acquiring an additional 88,093 shares during the last quarter. O Keefe Stevens Advisory Inc. increased its holdings in Sphere Entertainment by 3.5% during the 1st quarter. O Keefe Stevens Advisory Inc. now owns 198,796 shares of the company's stock valued at $6,505,000 after acquiring an additional 6,652 shares in the last quarter. GAMMA Investing LLC raised its position in Sphere Entertainment by 4,769.5% during the first quarter. GAMMA Investing LLC now owns 12,466 shares of the company's stock worth $381,000 after acquiring an additional 12,210 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Sphere Entertainment in the fourth quarter valued at about $202,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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