Sphere Entertainment Co. (NYSE:SPHR) Receives Consensus Rating of “Hold” from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $47.75.

Several brokerages recently issued reports on SPHR. Guggenheim reduced their target price on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Macquarie cut their price objective on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Morgan Stanley lowered their target price 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.

Sphere Entertainment Stock Up 2.0 %

Shares of NYSE SPHR traded up $0.74 during mid-day trading on Tuesday, reaching $38.43. 1,601,689 shares of the company were exchanged, compared to its average volume of 704,020. The firm has a 50-day moving average of $43.53 and a 200 day moving average of $43.14. Sphere Entertainment has a 1 year low of $32.10 and a 1 year high of $51.83. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -3.66 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.

Institutional Trading of Sphere Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new position in Sphere Entertainment in the 4th quarter valued at approximately $202,000. Putney Financial Group LLC purchased a new position in Sphere Entertainment in the fourth quarter valued at about $257,000. Public Employees Retirement System of Ohio purchased a new position in Sphere Entertainment in the fourth quarter valued at about $93,000. Poehling Capital Management INC. increased its position in shares of Sphere Entertainment by 104.1% during the fourth quarter. Poehling Capital Management INC. now owns 35,839 shares of the company’s stock worth $1,445,000 after acquiring an additional 18,280 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Sphere Entertainment by 14.4% in the fourth 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. 92.03% of the stock is owned by hedge funds and other institutional investors.

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.