Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) was the recipient of unusually large options trading on Friday. Traders acquired 5,143 call options on the stock. This represents an increase of approximately 92% compared to the average volume of 2,679 call options.
Sphere Entertainment Stock Down 3.3 %
SPHR stock traded down $0.92 during midday trading on Wednesday, hitting $27.33. The company's stock had a trading volume of 285,587 shares, compared to its average volume of 809,423. The company has a market cap of $978.22 million, a PE ratio of -2.60 and a beta of 1.48. The firm's 50-day moving average is $32.08 and its 200-day moving average is $38.90. Sphere Entertainment has a 12 month low of $23.89 and a 12 month high of $50.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. 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 research note on Tuesday, March 4th. Benchmark restated a "sell" rating on shares of Sphere Entertainment in a report on Monday, March 3rd. Macquarie reduced their price objective on shares of Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Susquehanna initiated coverage on shares of Sphere Entertainment in a research report on Monday. They set a "positive" rating and a $37.00 price objective for the company. 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 given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $45.67.
Check Out Our Latest Research Report on Sphere Entertainment
Insiders Place Their Bets
In other news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 25.08% of the company's stock.
Institutional Investors Weigh In On Sphere Entertainment
Several institutional investors and hedge funds have recently added to or reduced their stakes in SPHR. Barclays PLC grew its stake in shares of Sphere Entertainment by 295.6% during the 3rd quarter. Barclays PLC now owns 66,045 shares of the company's stock valued at $2,809,000 after purchasing an additional 49,351 shares during the period. Geode Capital Management LLC boosted its stake in shares of Sphere Entertainment by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 613,008 shares of the company's stock worth $27,088,000 after acquiring an additional 7,434 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Sphere Entertainment during the 3rd quarter valued at $242,000. Tidal Investments LLC bought a new position in Sphere Entertainment in the 3rd quarter worth $225,000. Finally, Principal Financial Group Inc. bought a new stake in Sphere Entertainment during the third quarter valued at about $788,000. Hedge funds and other institutional investors own 92.03% of the company's stock.
Sphere Entertainment Company Profile
(
Get Free Report)
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.
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