Sphere Entertainment (NYSE:SPHR) Price Target Lowered to $54.00 at JPMorgan Chase & Co.

Sphere Entertainment (NYSE:SPHR) had its price target decreased by JPMorgan Chase & Co. from $57.00 to $54.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

SPHR has been the topic of several other reports. Morgan Stanley dropped their price objective on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Guggenheim cut their price objective on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Macquarie decreased their target price on Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. One research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.38.

Sphere Entertainment Price Performance

SPHR opened at $37.48 on Tuesday. The company has a 50 day moving average of $43.50 and a two-hundred day moving average of $42.99. Sphere Entertainment has a 52-week low of $32.10 and a 52-week high of $51.83. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.33 billion, a P/E ratio of -3.57 and a beta of 1.39.

Institutional Investors Weigh In On Sphere Entertainment

Several large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its holdings in shares of Sphere Entertainment by 826.1% during the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock valued at $34,000 after acquiring an additional 760 shares during the period. Ancora Advisors LLC bought a new stake in Sphere Entertainment in the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 681 shares during the period. 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 bought a new stake in shares of Sphere Entertainment during the fourth quarter valued at approximately $93,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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.