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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $46.75.

A number of research firms recently commented on SPHR. Macquarie dropped their price objective on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Benchmark reissued a “sell” rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th.

Insider Activity at Sphere Entertainment

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 25.08% of the stock is owned by corporate insiders.

Institutional Trading of Sphere Entertainment

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in Sphere Entertainment by 16.4% during the third quarter. Victory Capital Management Inc. now owns 17,503 shares of the company’s stock valued at $744,000 after purchasing an additional 2,461 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Sphere Entertainment in the third quarter worth about $320,000. Charles Schwab Investment Management Inc. increased its stake in shares of Sphere Entertainment by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 334,300 shares of the company’s stock valued at $14,218,000 after buying an additional 5,575 shares during the period. Algert Global LLC raised its holdings in Sphere Entertainment by 36.2% in the 3rd quarter. Algert Global LLC now owns 17,737 shares of the company’s stock worth $754,000 after purchasing an additional 4,710 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Sphere Entertainment in the third quarter worth about $561,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Sphere Entertainment Price Performance

Shares of SPHR stock opened at $33.23 on Friday. 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 stock has a market capitalization of $1.19 billion, a PE ratio of -3.16 and a beta of 1.39. Sphere Entertainment has a 52 week low of $30.62 and a 52 week high of $50.88. The stock’s fifty day moving average is $40.74 and its 200-day moving average is $41.40.

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.