Sphere Entertainment (NYSE:SPHR) Raised to Strong-Buy at Seaport Res Ptn

Sphere Entertainment (NYSE:SPHR) was upgraded by stock analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on SPHR. Bank of America lifted their price target on Sphere Entertainment from $48.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, December 19th. Benchmark raised their price objective on shares of Sphere Entertainment from $35.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. BTIG Research initiated coverage on shares of Sphere Entertainment in a report on Monday, October 6th. They set a “neutral” rating for the company. Guggenheim increased their price target on shares of Sphere Entertainment from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Morgan Stanley upgraded shares of Sphere Entertainment from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $75.00 to $105.00 in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Sphere Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $80.60.

Sphere Entertainment Stock Performance

NYSE SPHR opened at $95.28 on Thursday. The firm has a market capitalization of $3.36 billion, a P/E ratio of -18.43 and a beta of 1.71. The stock has a 50-day simple moving average of $84.93 and a two-hundred day simple moving average of $62.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96. Sphere Entertainment has a fifty-two week low of $23.89 and a fifty-two week high of $97.20.

Institutional Investors Weigh In On Sphere Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Sphere Entertainment by 5.5% during the first quarter. Royal Bank of Canada now owns 150,614 shares of the company’s stock worth $4,928,000 after acquiring an additional 7,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Sphere Entertainment by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock valued at $532,000 after purchasing an additional 831 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Sphere Entertainment by 132.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after purchasing an additional 357,794 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Sphere Entertainment by 95.3% during the 2nd quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock worth $31,000 after purchasing an additional 363 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of Sphere Entertainment by 4.7% during the 2nd quarter. North Star Investment Management Corp. now owns 140,615 shares of the company’s stock worth $5,878,000 after purchasing an additional 6,310 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.