Sphere Entertainment (NYSE:SPHR) Stock Acquired Rep. Gilbert Ray Cisneros, Jr.

Representative Gilbert Ray Cisneros, Jr. (D-California) recently bought shares of Sphere Entertainment Co. (NYSE:SPHR). In a filing disclosed on May 06th, the Representative disclosed that they had bought between $15,001 and $50,000 in Sphere Entertainment stock on April 4th. The trade occurred in the Representative's "150 MAIN STREET TRUST > WELLS FARGO ADVISORS" account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Beiersdorf Aktiengesellschaft OTCMKTS: BDRFF on 5/2/2025.
• Purchased $1,001 - $15,000 in shares of Alkami Technology NASDAQ: ALKT on 4/30/2025.
• Purchased $1,001 - $15,000 in shares of Merck & Co., Inc. NYSE: MRK on 4/29/2025.
• Sold $1,001 - $15,000 in shares of DXC Technology NYSE: DXC on 4/29/2025.
• Sold $1,001 - $15,000 in shares of DOW NYSE: DOW on 4/29/2025.
• Sold $1,001 - $15,000 in shares of Zions Bancorporation, National Association NASDAQ: ZION on 4/29/2025.
• Purchased $1,001 - $15,000 in shares of O'Reilly Automotive NASDAQ: ORLY on 4/29/2025.
• Purchased $1,001 - $15,000 in shares of McKesson NYSE: MCK on 4/29/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 4/29/2025.
• Sold $1,001 - $15,000 in shares of Humana NYSE: HUM on 4/29/2025.

Sphere Entertainment Stock Performance

SPHR traded up $0.92 during trading on Friday, hitting $32.50. 862,410 shares of the stock were exchanged, compared to its average volume of 813,088. The firm has a market capitalization of $1.16 billion, a P/E ratio of -3.10 and a beta of 1.51. Sphere Entertainment Co. has a 1-year low of $23.89 and a 1-year high of $50.88. The stock has a fifty day moving average price of $29.96 and a two-hundred day moving average price of $37.93. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($2.27) EPS for the quarter, beating analysts' consensus estimates of ($2.48) by $0.21. The business had revenue of $280.57 million for the quarter, compared to analysts' expectations of $285.01 million. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The company's quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.33) EPS. As a group, sell-side analysts predict that Sphere Entertainment Co. will post -11.47 earnings per share for the current year.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of Sphere Entertainment stock in a transaction on Monday, March 10th. The stock was sold at an average price of $33.80, for a total transaction of $1,872,013.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.08% of the company's stock.

Institutional Trading of Sphere Entertainment

A number of institutional investors have recently modified their holdings of the business. Barclays PLC boosted its position in shares of Sphere Entertainment by 295.6% during the 3rd quarter. Barclays PLC now owns 66,045 shares of the company's stock worth $2,809,000 after purchasing an additional 49,351 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sphere Entertainment in the third quarter valued at about $242,000. Tidal Investments LLC purchased a new stake in Sphere Entertainment during the third quarter worth about $225,000. Principal Financial Group Inc. acquired a new position in Sphere Entertainment during the third quarter worth about $788,000. Finally, JPMorgan Chase & Co. increased its holdings in Sphere Entertainment by 140.0% in the third quarter. JPMorgan Chase & Co. now owns 150,955 shares of the company's stock valued at $6,669,000 after buying an additional 88,065 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Guggenheim upped their target price on shares of Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a report on Friday. Benchmark reaffirmed a "sell" rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. Macquarie lowered their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley dropped their target price on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price target on Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $46.22.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California's 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California's 31st Congressional District. He declared candidacy for the 2026 election. Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor's degree in political science from George Washington University in 1994, a master's in business administration from Regis University in 2002, and a master's degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

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.