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

Sphere Entertainment Co. (NYSE:SPHR) has been given an average rating of “Hold” by the thirteen analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $78.70.

SPHR has been the subject of several recent analyst reports. BTIG Research initiated coverage on shares of Sphere Entertainment in a research note on Monday, October 6th. They issued a “neutral” rating for the company. Benchmark lifted their price objective on Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, October 8th. Guggenheim lifted their price target on Sphere Entertainment from $78.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Bank of America upped their price objective on shares of Sphere Entertainment from $48.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, December 19th.

Hedge Funds Weigh In On Sphere Entertainment

Large investors have recently bought and sold shares of the stock. Quent Capital LLC purchased a new position in shares of Sphere Entertainment in the 3rd quarter worth $30,000. ORG Partners LLC increased its stake in Sphere Entertainment by 80.1% during the third quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after acquiring an additional 294 shares during the last quarter. CWM LLC raised its holdings in shares of Sphere Entertainment by 915.3% in the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock worth $31,000 after purchasing an additional 659 shares during the period. GAMMA Investing LLC lifted its stake in shares of Sphere Entertainment by 95.3% in the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock valued at $31,000 after purchasing an additional 363 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Sphere Entertainment by 576.6% during the 3rd quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock worth $58,000 after purchasing an additional 790 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

NYSE:SPHR opened at $93.34 on Monday. Sphere Entertainment has a 12-month low of $23.89 and a 12-month high of $96.73. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -18.05 and a beta of 1.79. The company’s 50-day moving average is $79.46 and its two-hundred day moving average is $59.12. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.