Investment analysts at Susquehanna initiated coverage on shares of Sphere Entertainment (NYSE:SPHR - Get Free Report) in a research note issued on Monday, Marketbeat.com reports. The firm set a "positive" rating and a $37.00 price target on the stock. Susquehanna's target price would suggest a potential upside of 36.93% from the stock's current price.
A number of other research firms have also recently commented on SPHR. Macquarie lowered their price target on Sphere Entertainment from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Guggenheim reaffirmed a "buy" rating and issued a $69.00 price objective on shares of Sphere Entertainment in a research note on Wednesday, April 23rd. The Goldman Sachs Group set a $36.00 price objective on Sphere Entertainment and gave the stock a "buy" rating in a research note on Friday, April 18th. Morgan Stanley reduced their price objective 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. Finally, Benchmark reaffirmed a "sell" rating on shares of Sphere Entertainment in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Sphere Entertainment presently has a consensus rating of "Hold" and an average target price of $45.67.
Get Our Latest Stock Report on Sphere Entertainment
Sphere Entertainment Stock Performance
Shares of SPHR stock traded down $0.23 during trading hours on Monday, reaching $27.02. 634,299 shares of the company traded hands, compared to its average volume of 812,467. Sphere Entertainment has a 12-month low of $23.89 and a 12-month high of $50.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $967.16 million, a P/E ratio of -2.57 and a beta of 1.48. The firm has a 50-day moving average price of $31.68 and a 200 day moving average price of $38.82.
Insider Buying and Selling
In other Sphere Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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 SEC, which is available at the SEC website. 25.08% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position in Sphere Entertainment by 826.1% during the 4th quarter. Sterling Capital Management LLC now owns 852 shares of the company's stock valued at $34,000 after purchasing an additional 760 shares during the period. Ancora Advisors LLC purchased a new stake in Sphere Entertainment during the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC grew its position in Sphere Entertainment by 108.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company's stock worth $53,000 after purchasing an additional 681 shares during the last quarter. Blue Trust Inc. lifted its stake in Sphere Entertainment by 149.5% during the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company's stock valued at $67,000 after acquiring an additional 912 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Sphere Entertainment during the 4th quarter valued at approximately $93,000. Hedge funds and other institutional investors own 92.03% of the company's stock.
About Sphere Entertainment
(
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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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