Sphere Entertainment (NYSE:SPHR) Trading Up 4.7%

Shares of Sphere Entertainment Co. (NYSE:SPHR) traded up 4.7% during mid-day trading on Friday . The company traded as high as $39.76 and last traded at $39.76. 89,848 shares traded hands during trading, a decline of 87% from the average session volume of 699,547 shares. The stock had previously closed at $37.96.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Sphere Entertainment from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Seaport Res Ptn lowered Sphere Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, April 8th. Bank of America started coverage on Sphere Entertainment in a research report on Wednesday, February 7th. They set a “neutral” rating and a $43.00 price target for the company. Finally, Wolfe Research started coverage on Sphere Entertainment in a research note on Wednesday, January 17th. They issued a “peer perform” rating on the stock. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.60.

Sphere Entertainment Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a 50 day moving average price of $44.61 and a 200 day moving average price of $38.03. The company has a market cap of $1.36 billion, a P/E ratio of 3.62 and a beta of 1.40.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings data on Monday, February 5th. The company reported ($4.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($4.42). The firm had revenue of $314.16 million during the quarter, compared to the consensus estimate of $303.28 million. Sphere Entertainment had a return on equity of 8.91% and a net margin of 40.36%. The firm’s quarterly revenue was up 96.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.25 EPS. Research analysts expect that Sphere Entertainment Co. will post -3.88 earnings per share for the current fiscal year.

Insider Transactions at Sphere Entertainment

In related news, CEO James Lawrence Dolan bought 59,374 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $41.11 per share, with a total value of $2,440,865.14. Following the completion of the transaction, the chief executive officer now directly owns 443,900 shares of the company’s stock, valued at $18,248,729. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO James Lawrence Dolan bought 59,374 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $41.11 per share, with a total value of $2,440,865.14. Following the completion of the transaction, the chief executive officer now directly owns 443,900 shares of the company’s stock, valued at $18,248,729. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrea Greenberg sold 12,131 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $51.00, for a total value of $618,681.00. Following the transaction, the chief executive officer now directly owns 76,650 shares in the company, valued at $3,909,150. The disclosure for this sale can be found here. Insiders have purchased 245,669 shares of company stock valued at $10,706,120 over the last three months. Company insiders own 24.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Carnegie Capital Asset Management LLC bought a new stake in shares of Sphere Entertainment during the 4th quarter worth about $4,734,000. Seven Eight Capital LP acquired a new position in shares of Sphere Entertainment in the 3rd quarter worth approximately $980,000. Thompson Siegel & Walmsley LLC bought a new stake in Sphere Entertainment during the 3rd quarter worth approximately $5,077,000. American Century Companies Inc. bought a new stake in Sphere Entertainment during the 3rd quarter worth approximately $7,093,000. Finally, O Keefe Stevens Advisory Inc. bought a new stake in Sphere Entertainment during the 4th quarter worth approximately $5,580,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

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.