Brokerages Set Sphere Entertainment Co. (NYSE:SPHR) Target Price at $47.75

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $47.38.

A number of research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Sphere Entertainment from $57.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley reduced their price target on Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Macquarie lowered their price objective on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Guggenheim dropped their price objective on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th.

Hedge Funds Weigh In On Sphere Entertainment

Institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. acquired a new stake in Sphere Entertainment in the fourth quarter valued at $202,000. Putney Financial Group LLC bought a new stake in shares of Sphere Entertainment in the 4th quarter worth about $257,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Sphere Entertainment in the 4th quarter valued at about $93,000. Poehling Capital Management INC. grew its stake in Sphere Entertainment by 104.1% in the fourth quarter. Poehling Capital Management INC. now owns 35,839 shares of the company’s stock worth $1,445,000 after purchasing an additional 18,280 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sphere Entertainment by 14.4% in the fourth 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 buying an additional 5,849 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Sphere Entertainment Stock Performance

NYSE:SPHR opened at $37.48 on Tuesday. The firm’s fifty day simple moving average is $43.50 and its 200 day simple moving average is $42.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Sphere Entertainment has a twelve month low of $32.10 and a twelve month high of $51.83. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.57 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.