Sphere Entertainment (NYSE:SPHR) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Sphere Entertainment (NYSE:SPHR) from a hold rating to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Craig Hallum restated a “buy” rating and set a $100.00 target price on shares of Sphere Entertainment in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, October 8th. Benchmark upped their target price on shares of Sphere Entertainment from $35.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $98.00 target price on shares of Sphere Entertainment in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sphere Entertainment from $80.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.60.

Sphere Entertainment Stock Up 4.3%

NYSE:SPHR opened at $95.28 on Thursday. Sphere Entertainment has a 52 week low of $23.89 and a 52 week high of $97.20. The stock’s fifty day moving average is $84.93 and its two-hundred day moving average is $62.81. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -18.43 and a beta of 1.71. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36.

Hedge Funds Weigh In On Sphere Entertainment

Large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. purchased a new position in shares of Sphere Entertainment in the 2nd quarter valued at approximately $209,000. North Star Investment Management Corp. lifted its holdings in shares of Sphere Entertainment by 4.7% during the second quarter. North Star Investment Management Corp. now owns 140,615 shares of the company’s stock worth $5,878,000 after purchasing an additional 6,310 shares during the period. O Keefe Stevens Advisory Inc. grew its position in Sphere Entertainment by 4.7% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 208,182 shares of the company’s stock valued at $8,702,000 after buying an additional 9,386 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Sphere Entertainment in the 2nd quarter valued at $609,000. Finally, Geode Capital Management LLC raised its position in Sphere Entertainment by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock worth $27,175,000 after buying an additional 9,746 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

About Sphere Entertainment

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.