Sphere Entertainment (NYSE:SPHR) Stock Price Up 0.8% – Still a Buy?

Sphere Entertainment Co. (NYSE:SPHR)’s share price shot up 0.8% during trading on Monday . The company traded as high as $32.00 and last traded at $31.78. 103,814 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 726,840 shares. The stock had previously closed at $31.52.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPHR. 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, March 4th. Macquarie cut their target price on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Benchmark reissued a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Sphere Entertainment has an average rating of “Hold” and an average target price of $46.75.

Sphere Entertainment Stock Up 4.2 %

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 stock has a market capitalization of $1.18 billion, a PE ratio of -3.13 and a beta of 1.39. The stock’s fifty day simple moving average is $42.53 and its 200-day simple moving average is $42.20.

Insider Buying and Selling at Sphere Entertainment

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 legal filing with the SEC, which is available at this link. Company insiders own 25.08% of the company’s stock.

Institutional Investors Weigh In On Sphere Entertainment

A number of hedge funds have recently made changes to their positions in SPHR. Victory Capital Management Inc. boosted its stake in Sphere Entertainment by 1.2% in the third quarter. Victory Capital Management Inc. now owns 22,438 shares of the company’s stock valued at $991,000 after acquiring an additional 271 shares during the last quarter. US Bancorp DE raised its holdings in shares of Sphere Entertainment by 3.8% in the 4th quarter. US Bancorp DE now owns 7,511 shares of the company’s stock worth $303,000 after purchasing an additional 276 shares during the period. Central Pacific Bank Trust Division lifted its stake in Sphere Entertainment by 5.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company’s stock valued at $401,000 after purchasing an additional 500 shares during the last quarter. Boyar Asset Management Inc. grew its holdings in Sphere Entertainment by 1.2% during the fourth quarter. Boyar Asset Management Inc. now owns 44,457 shares of the company’s stock valued at $1,793,000 after purchasing an additional 542 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Sphere Entertainment by 108.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock worth $53,000 after buying an additional 681 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Company Profile

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.