Sphere Entertainment (NYSE:SPHR) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Sphere Entertainment (NYSE:SPHR) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

SPHR has been the topic of several other research reports. Wells Fargo & Company set a $200.00 price objective on shares of Sphere Entertainment in a report on Tuesday, October 6th. The Goldman Sachs Group increased their price objective on shares of Sphere Entertainment from $150.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lowered their target price on shares of Sphere Entertainment from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. BTIG Research dropped their target price on shares of Sphere Entertainment from $190.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Finally, Craig Hallum lowered shares of Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price target on the stock. in a research note on Monday, October 5th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sphere Entertainment has an average rating of “Moderate Buy” and a consensus target price of $162.27.

Sphere Entertainment Stock Performance

Shares of SPHR stock opened at $110.21 on Friday. The business’s fifty day simple moving average is $134.25 and its 200-day simple moving average is $129.62. The company has a market cap of $3.96 billion, a PE ratio of -41.12 and a beta of 1.61. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. Sphere Entertainment has a 12-month low of $64.00 and a 12-month high of $181.63.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.07) EPS for the quarter, beating the consensus estimate of ($1.51) by $0.44. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%. The firm had revenue of $313.64 million during the quarter, compared to analyst estimates of $307.44 million. During the same quarter in the prior year, the business posted $3.39 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts expect that Sphere Entertainment will post -2.54 earnings per share for the current fiscal year.

Institutional Trading of Sphere Entertainment

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in shares of Sphere Entertainment by 204.9% in the third quarter. Signaturefd LLC now owns 186 shares of the company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Polaris Financial Partners purchased a new stake in Sphere Entertainment in the third quarter valued at approximately $43,000. Nykredit A S purchased a new stake in Sphere Entertainment in the second quarter valued at approximately $79,000. Parallel Advisors LLC increased its holdings in Sphere Entertainment by 275.0% in the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after buying an additional 341 shares during the period. Finally, Vision Retirement LLC increased its holdings in Sphere Entertainment by 38.0% in the 1st quarter. Vision Retirement LLC now owns 483 shares of the company’s stock worth $57,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.