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

Sphere Entertainment Co. (NYSE:SPHR) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $35.60.

Several research analysts recently weighed in on SPHR shares. Seaport Res Ptn lowered Sphere Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, April 8th. Bank of America began coverage on Sphere Entertainment in a research note on Wednesday, February 7th. They set a “neutral” rating and a $43.00 target price for the company. JPMorgan Chase & Co. raised their target price on Sphere Entertainment from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Finally, Wolfe Research began coverage on Sphere Entertainment in a research note on Wednesday, January 17th. They issued a “peer perform” rating for the company.

Insider Buying and Selling

In other news, CEO Andrea Greenberg sold 12,131 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $51.00, for a total transaction of $618,681.00. Following the sale, the chief executive officer now directly owns 76,650 shares of the company’s stock, valued at $3,909,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Andrea Greenberg sold 12,131 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $51.00, for a total transaction of $618,681.00. Following the sale, the chief executive officer now directly owns 76,650 shares in the company, valued at $3,909,150. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Lawrence Dolan acquired 59,374 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $41.11 per share, for a total transaction of $2,440,865.14. Following the completion of the acquisition, the chief executive officer now owns 443,900 shares of the company’s stock, valued at $18,248,729. The disclosure for this purchase can be found here. Insiders acquired 245,669 shares of company stock valued at $10,706,120 over the last quarter. Corporate insiders own 24.46% of the company’s stock.

Institutional Investors Weigh In On Sphere Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in shares of Sphere Entertainment by 2.2% in the 4th quarter. Victory Capital Management Inc. now owns 20,851 shares of the company’s stock valued at $708,000 after acquiring an additional 457 shares during the period. Ancora Advisors LLC bought a new position in shares of Sphere Entertainment in the 3rd quarter valued at about $25,000. Allegheny Financial Group LTD grew its position in shares of Sphere Entertainment by 16.2% in the 4th quarter. Allegheny Financial Group LTD now owns 6,273 shares of the company’s stock valued at $213,000 after acquiring an additional 875 shares during the period. Radnor Capital Management LLC grew its position in shares of Sphere Entertainment by 4.2% in the 1st quarter. Radnor Capital Management LLC now owns 22,845 shares of the company’s stock valued at $1,121,000 after acquiring an additional 925 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Sphere Entertainment in the 3rd quarter valued at about $35,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Stock Up 1.2 %

SPHR opened at $40.69 on Friday. The business has a 50 day moving average price of $44.68 and a two-hundred day moving average price of $38.03. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.43 billion, a PE ratio of 3.85 and a beta of 1.40. Sphere Entertainment has a 52 week low of $20.68 and a 52 week high of $51.83.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Monday, February 5th. The company reported ($4.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). Sphere Entertainment had a return on equity of 8.91% and a net margin of 40.36%. The firm had revenue of $314.16 million during the quarter, compared to analyst estimates of $303.28 million. During the same quarter in the prior year, the company earned $2.25 EPS. The business’s revenue was up 96.9% on a year-over-year basis. As a group, research analysts anticipate that Sphere Entertainment will post -3.88 EPS for the current year.

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.