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 $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 Stock Performance

SPHR stock traded up $0.92 during midday trading on Friday, hitting $32.50. 862,410 shares of the company traded hands, compared to its average volume of 813,088. Sphere Entertainment Co. has a twelve month low of $23.89 and a twelve month high of $50.88. The business has a 50 day simple moving average of $29.96 and a 200-day simple moving average 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. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3.10 and a beta of 1.51.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SPHR shares. Guggenheim boosted their price target on Sphere Entertainment from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Friday. 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 price target on the stock. Macquarie decreased their target price on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. The Goldman Sachs Group set a $36.00 price objective on shares of Sphere Entertainment and gave the stock a "buy" rating in a research report on Friday, April 18th. Finally, Morgan Stanley lowered their target price on Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. One 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 MarketBeat.com, Sphere Entertainment has a consensus rating of "Hold" and an average price target of $46.22.

Institutional Trading of Sphere Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in SPHR. Vanguard Group Inc. grew its stake in shares of Sphere Entertainment by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,794,862 shares of the company's stock worth $112,689,000 after purchasing an additional 29,402 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Sphere Entertainment during the 4th quarter worth about $2,656,000. OFI Invest Asset Management bought a new stake in shares of Sphere Entertainment in the 4th quarter valued at about $306,000. Entropy Technologies LP raised its position in shares of Sphere Entertainment by 108.6% in the 4th quarter. Entropy Technologies LP now owns 13,816 shares of the company's stock valued at $557,000 after acquiring an additional 7,194 shares during the period. Finally, Norges Bank bought a new position in Sphere Entertainment during the 4th quarter worth approximately $14,432,000. Institutional investors own 92.03% of the company's stock.

Insider Activity at Sphere Entertainment

In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $33.80, for a total value of $1,872,013.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.