Sphere Entertainment (NYSE:SPHR) Stock Price Down 0.4% - Should You Sell?

Shares of Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) fell 0.4% during mid-day trading on Thursday . The company traded as low as $36.49 and last traded at $37.84. 121,058 shares were traded during mid-day trading, a decline of 83% from the average session volume of 715,091 shares. The stock had previously closed at $38.01.

Analysts Set New Price Targets

A number of research firms have issued reports on SPHR. Macquarie cut their target price on shares of Sphere Entertainment from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Morgan Stanley cut their price target on shares of Sphere Entertainment from $45.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. 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 report on Tuesday, March 4th. Finally, Guggenheim cut their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Sphere Entertainment presently has an average rating of "Hold" and a consensus price target of $47.38.

Sphere Entertainment Stock Down 5.0 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -3.39 and a beta of 1.39. The business's 50 day moving average is $43.45 and its 200-day moving average is $42.81.

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Institutional Trading of Sphere Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in Sphere Entertainment by 826.1% in the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock worth $34,000 after purchasing an additional 760 shares during the last quarter. Ancora Advisors LLC acquired a new stake in Sphere Entertainment in the 4th quarter worth $40,000. Tower Research Capital LLC TRC grew its position in 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 purchasing an additional 681 shares during the last quarter. Blue Trust Inc. grew its position in Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock worth $67,000 after purchasing an additional 912 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Sphere Entertainment in the 4th quarter worth $93,000. 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.