Sphere Entertainment (NYSE:SPHR) Price Target Cut to $54.00 by Analysts at JPMorgan Chase & Co.

Sphere Entertainment (NYSE:SPHR) had its price target cut by JPMorgan Chase & Co. from $57.00 to $54.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also commented on SPHR. Guggenheim cut their price target on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Macquarie lowered their target price on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Morgan Stanley lowered their target price on shares of Sphere Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sphere Entertainment currently has a consensus rating of “Hold” and an average price target of $47.38.

Sphere Entertainment Price Performance

Shares of NYSE SPHR opened at $37.66 on Tuesday. The firm has a market cap of $1.33 billion, a PE ratio of -3.59 and a beta of 1.39. The firm has a fifty day moving average of $43.52 and a 200 day moving average of $43.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Sphere Entertainment has a one year low of $32.10 and a one year high of $51.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of 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 acquiring an additional 760 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of Sphere Entertainment during the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC boosted its position in shares of Sphere Entertainment by 108.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the company’s stock valued at $53,000 after acquiring an additional 681 shares during the last quarter. Blue Trust Inc. boosted its position in shares of 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 last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Sphere Entertainment during the 4th quarter valued at about $93,000. Institutional investors and hedge funds 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.