Sphere Entertainment (NYSE:SPHR) Shares 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 $1,001 and $15,000 in Sphere Entertainment stock on April 8th. 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 Trading Up 5.4%

Shares of NYSE SPHR traded up $1.94 during trading on Tuesday, hitting $37.68. 574,935 shares of the company traded hands, compared to its average volume of 816,249. Sphere Entertainment Co. has a 1 year low of $23.89 and a 1 year high of $50.88. The company has a 50-day moving average price of $29.92 and a 200-day moving average price of $37.83. The firm has a market capitalization of $1.35 billion, a P/E ratio of -3.59 and a beta of 1.51. 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 posted its earnings results on Thursday, May 8th. The company reported ($2.27) earnings per share for the quarter, beating the consensus estimate of ($2.48) by $0.21. Sphere Entertainment had a negative net margin of 32.76% and a negative return on equity of 16.48%. The business had revenue of $280.57 million for the quarter, compared to analyst estimates of $285.01 million. During the same quarter in the previous year, the business posted ($1.33) EPS. The business's quarterly revenue was down 12.7% on a year-over-year basis. On average, equities analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Several hedge funds have recently made changes to their positions in SPHR. US Bancorp DE grew its position in Sphere Entertainment by 3.8% in the fourth quarter. US Bancorp DE now owns 7,511 shares of the company's stock valued at $303,000 after acquiring an additional 276 shares during the period. Boyar Asset Management Inc. lifted its position in Sphere Entertainment by 1.2% in the 4th quarter. Boyar Asset Management Inc. now owns 44,457 shares of the company's stock valued at $1,793,000 after acquiring an additional 542 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Sphere Entertainment by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock valued at $53,000 after acquiring an additional 681 shares in the last quarter. Legal & General Group Plc lifted its position in Sphere Entertainment by 2.8% in the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the company's stock valued at $1,076,000 after acquiring an additional 720 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Sphere Entertainment by 10.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,411 shares of the company's stock worth $299,000 after buying an additional 721 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SPHR shares. Morgan Stanley cut their price target on 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. Susquehanna assumed coverage on shares of Sphere Entertainment in a research note on Monday, April 28th. They issued a "positive" rating and a $37.00 price target on the stock. Benchmark reissued a "sell" rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. Guggenheim lifted their price target on Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $46.22.

Insider Activity at Sphere Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company's stock in a transaction dated 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 is accessible through the SEC website. Insiders own 25.08% of the company's stock.

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.