Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $26.47, but opened at $29.69. Sphere Entertainment shares last traded at $28.87, with a volume of 484,442 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Macquarie decreased their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Morgan Stanley lowered their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group set a $36.00 price target on shares of Sphere Entertainment and gave the stock a "buy" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. decreased their price objective on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, Susquehanna assumed coverage on Sphere Entertainment in a research report on Monday. They set a "positive" rating and a $37.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Sphere Entertainment has a consensus rating of "Hold" and an average target price of $45.67.
View Our Latest Analysis on SPHR
Sphere Entertainment Price Performance
The company has a 50 day moving average price of $32.83 and a 200 day moving average price of $39.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $1.06 billion, a PE ratio of -2.82 and a beta of 1.48.
Insider Transactions at Sphere Entertainment
In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 25.08% of the company's stock.
Hedge Funds Weigh In On Sphere Entertainment
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in Sphere Entertainment by 826.1% during the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock worth $34,000 after buying an additional 760 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Sphere Entertainment during the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC grew its holdings in shares of Sphere Entertainment by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock worth $53,000 after acquiring an additional 681 shares during the period. Blue Trust Inc. increased its stake in Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after purchasing an additional 912 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Sphere Entertainment during the fourth quarter worth $93,000. 92.03% of the stock is owned by institutional investors and hedge funds.
About Sphere Entertainment
(
Get Free Report)
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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