Rep. Gilbert Ray Cisneros, Jr. Buys Sphere Entertainment Co. (NYSE:SPHR) Shares

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 Up 5.4%

Shares of SPHR traded up $1.94 during trading hours on Tuesday, hitting $37.68. The company had a trading volume of 574,935 shares, compared to its average volume of 816,249. The firm has a fifty day moving average price of $29.92 and a 200-day moving average price of $37.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -3.59 and a beta of 1.51. Sphere Entertainment Co. has a 52-week low of $23.89 and a 52-week high of $50.88.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($2.27) earnings per share for the quarter, topping analysts' consensus estimates of ($2.48) by $0.21. Sphere Entertainment had a negative return on equity of 16.48% and a negative net margin of 32.76%. The business had revenue of $280.57 million during the quarter, compared to analyst estimates of $285.01 million. During the same quarter in the previous year, the firm earned ($1.33) EPS. Sphere Entertainment's revenue was down 12.7% on a year-over-year basis. On average, equities research analysts forecast that Sphere Entertainment Co. will post -11.47 EPS for the current fiscal year.

Insider Buying and Selling at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $33.80, for a total value of $1,872,013.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 25.08% of the company's stock.

Hedge Funds Weigh In On Sphere Entertainment

Hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC lifted its stake in Sphere Entertainment by 826.1% during the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock worth $34,000 after purchasing an additional 760 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of Sphere Entertainment in the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC raised its holdings in shares of Sphere Entertainment by 108.1% during the 4th 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 in the last quarter. Blue Trust Inc. grew its position in Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock worth $67,000 after purchasing an additional 912 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Sphere Entertainment in the fourth quarter valued at about $93,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Macquarie dropped their price target on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Guggenheim lifted their price objective on shares of Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Friday. Benchmark reaffirmed a "sell" rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Susquehanna started coverage on shares of Sphere Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $37.00 target price on the stock. Finally, Morgan Stanley cut their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Sphere Entertainment presently has an average rating of "Hold" and a consensus 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.