Sphere Entertainment (NYSE:SPHR) Price Target Raised to $91.00

Sphere Entertainment (NYSE:SPHR) had its price objective boosted by JPMorgan Chase & Co. from $80.00 to $91.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms have also recently commented on SPHR. The Goldman Sachs Group upped their price objective on Sphere Entertainment from $69.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. BTIG Research assumed coverage on shares of Sphere Entertainment in a research report on Monday, October 6th. They issued a “neutral” rating on the stock. Benchmark upped their price objective on Sphere Entertainment from $35.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Morgan Stanley increased their target price on shares of Sphere Entertainment from $40.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.25.

Sphere Entertainment Price Performance

NYSE:SPHR opened at $84.25 on Thursday. Sphere Entertainment has a one year low of $23.89 and a one year high of $85.48. The stock has a market cap of $2.97 billion, a PE ratio of -16.30 and a beta of 1.79. The stock has a 50 day moving average price of $70.78 and a 200 day moving average price of $53.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its stake in shares of Sphere Entertainment by 41.2% during the 1st quarter. Northern Trust Corp now owns 523,839 shares of the company’s stock worth $17,140,000 after purchasing an additional 152,893 shares during the period. Sandler Capital Management purchased a new position in shares of Sphere Entertainment during the 1st quarter worth approximately $1,701,000. D.A. Davidson & CO. acquired a new stake in shares of Sphere Entertainment during the second quarter valued at $209,000. Capital Fund Management S.A. lifted its holdings in Sphere Entertainment by 48.4% in the 1st quarter. Capital Fund Management S.A. now owns 92,277 shares of the company’s stock valued at $3,019,000 after purchasing an additional 30,093 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Sphere Entertainment during the first quarter valued at approximately $279,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

About Sphere Entertainment

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.