Sphere Entertainment Co. (NYSE:SPHR) Receives $46.75 Consensus Target Price from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $46.75.

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Sphere Entertainment to a “strong-buy” rating in a research note on Thursday, March 27th. Macquarie cut their target price on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price target on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Finally, Benchmark reissued a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd.

Insider Buying and Selling

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 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 document filed with the SEC, which is available at this link. 25.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPHR. Sterling Capital Management LLC lifted its position in Sphere Entertainment by 826.1% during the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock valued at $34,000 after purchasing an additional 760 shares during the period. Ancora Advisors LLC bought a new position in Sphere Entertainment in the fourth quarter valued at approximately $40,000. Tower Research Capital LLC TRC raised its position in shares of Sphere Entertainment by 108.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock valued at $53,000 after acquiring an additional 681 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 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 during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Sphere Entertainment in the fourth quarter valued at about $93,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Down 7.0 %

SPHR stock opened at $26.82 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a market cap of $959.97 million, a PE ratio of -2.55 and a beta of 1.39. Sphere Entertainment has a 1 year low of $25.44 and a 1 year high of $50.88. The company has a fifty day simple moving average of $39.63 and a 200 day simple moving average of $41.03.

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.