Sphere Entertainment (NYSE:SPHR) Coverage Initiated by Analysts at Susquehanna

Susquehanna initiated coverage on shares of Sphere Entertainment (NYSE:SPHR) in a research report report published on Monday, Marketbeat Ratings reports. The firm issued a positive rating and a $37.00 price target on the stock.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group set a $36.00 price objective on shares of Sphere Entertainment and gave the stock a “buy” rating in a report on Friday, April 18th. Morgan Stanley decreased their price objective on shares of Sphere Entertainment from $45.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Macquarie decreased their price objective on shares of Sphere Entertainment from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Benchmark reiterated a “sell” rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sphere Entertainment currently has an average rating of “Hold” and a consensus target price of $45.67.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $29.65 on Monday. The firm has a 50-day moving average of $32.46 and a 200-day moving average of $38.97. The company has a market cap of $1.06 billion, a P/E ratio of -2.82 and a beta of 1.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. Sphere Entertainment has a one year low of $23.89 and a one year high of $50.88.

Insider Activity

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sphere Entertainment

Several hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its position in Sphere Entertainment by 3.8% during the fourth quarter. US Bancorp DE now owns 7,511 shares of the company’s stock valued at $303,000 after purchasing an additional 276 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in Sphere Entertainment by 5.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 9,946 shares of the company’s stock valued at $401,000 after purchasing an additional 500 shares during the last quarter. Boyar Asset Management Inc. lifted its position in Sphere Entertainment by 1.2% during the fourth quarter. Boyar Asset Management Inc. now owns 44,457 shares of the company’s stock valued at $1,793,000 after purchasing an additional 542 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Sphere Entertainment by 108.1% during the fourth 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 last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Sphere Entertainment by 2.8% in the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the company’s stock worth $1,076,000 after acquiring an additional 720 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

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.