Sphere Entertainment (NYSE:SPHR) Given New $54.00 Price Target at JPMorgan Chase & Co.

Sphere Entertainment (NYSE:SPHR) had its price target cut by analysts at JPMorgan Chase & Co. from $57.00 to $54.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 42.97% from the stock’s previous close.

A number of other brokerages also recently weighed in on SPHR. 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 report on Monday, November 11th. Guggenheim reduced their target price on shares of Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Macquarie lowered their price target on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.38.

Sphere Entertainment Stock Up 0.2 %

Shares of NYSE SPHR traded up $0.08 during mid-day trading on Tuesday, hitting $37.77. The company had a trading volume of 1,434,159 shares, compared to its average volume of 700,079. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $43.53 and a two-hundred day simple moving average of $43.14. The company has a market capitalization of $1.34 billion, a PE ratio of -3.60 and a beta of 1.39. Sphere Entertainment has a one year low of $32.10 and a one year high of $51.83.

Hedge Funds Weigh In On Sphere Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its stake in Sphere Entertainment by 826.1% in the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock valued at $34,000 after buying an additional 760 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Sphere Entertainment in the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC grew its holdings 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 purchasing an additional 681 shares during the last quarter. Blue Trust Inc. grew its holdings 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 purchasing an additional 912 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Sphere Entertainment during the 4th quarter worth approximately $93,000. 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.