Sphere Entertainment Co. (NYSE:SPHR) Receives $47.75 Average PT from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $47.38.

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Sphere Entertainment from $45.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. Guggenheim dropped their price target on Sphere Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Macquarie dropped their price target on Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. dropped their price target on Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday.

Sphere Entertainment Stock Down 5.0 %

Shares of NYSE SPHR traded down $1.86 during trading hours on Tuesday, hitting $35.60. The company had a trading volume of 1,446,723 shares, compared to its average volume of 747,476. The stock has a market capitalization of $1.26 billion, a P/E ratio of -3.39 and a beta of 1.39. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment has a 1-year low of $32.10 and a 1-year high of $51.83. The firm's 50 day moving average is $43.45 and its 200-day moving average is $42.85.

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Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. bought a new position in Sphere Entertainment during the 4th quarter worth $202,000. Putney Financial Group LLC bought a new position in Sphere Entertainment during the 4th quarter worth $257,000. Public Employees Retirement System of Ohio bought a new position in Sphere Entertainment during the 4th quarter worth $93,000. Poehling Capital Management INC. grew its holdings in shares of Sphere Entertainment by 104.1% during the 4th quarter. Poehling Capital Management INC. now owns 35,839 shares of the company's stock worth $1,445,000 after purchasing an additional 18,280 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sphere Entertainment by 14.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,330 shares of the company's stock worth $1,868,000 after purchasing an additional 5,849 shares in the last quarter. 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.