Analysts Set Sphere Entertainment Co. (NYSE:SPHR) Price Target at $46.75

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

Several research analysts have recently weighed in on SPHR shares. Macquarie cut their price target on Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Benchmark restated a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group upgraded Sphere Entertainment to a “strong-buy” rating in a research report on Thursday, March 27th.

Insider Activity at Sphere Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $33.80, for a total transaction of $1,872,013.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 25.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sphere Entertainment

A number of large investors have recently added to or reduced their stakes in SPHR. Jefferies Financial Group Inc. bought a new position in shares of Sphere Entertainment during the 4th quarter valued at about $202,000. Putney Financial Group LLC bought a new position in Sphere Entertainment during the fourth quarter valued at approximately $257,000. Public Employees Retirement System of Ohio purchased a new position in shares of Sphere Entertainment during the fourth quarter worth approximately $93,000. Poehling Capital Management INC. lifted its holdings in shares of Sphere Entertainment by 104.1% in the 4th 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 boosted its stake in shares of Sphere Entertainment by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,330 shares of the company’s stock valued at $1,868,000 after purchasing an additional 5,849 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Shares of NYSE SPHR opened at $33.53 on Friday. 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 fifty day simple moving average of $40.23 and a two-hundred day simple moving average of $41.22. Sphere Entertainment has a 1-year low of $30.62 and a 1-year high of $50.88. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -3.19 and a beta of 1.39.

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.