JPMorgan Chase & Co. Lowers Sphere Entertainment (NYSE:SPHR) Price Target to $54.00

Sphere Entertainment (NYSE:SPHR) had its price objective decreased by analysts at JPMorgan Chase & Co. from $57.00 to $54.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 41.69% from the company’s current price.

SPHR has been the topic of several other reports. Guggenheim cut their target price on Sphere Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley cut their price objective on 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. Finally, Macquarie decreased their target price on shares of Sphere Entertainment from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sphere Entertainment has a consensus rating of “Hold” and an average target price of $47.38.

Sphere Entertainment Price Performance

SPHR stock opened at $38.11 on Tuesday. 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 52-week low of $32.10 and a 52-week high of $51.83. The company has a market capitalization of $1.35 billion, a P/E ratio of -3.63 and a beta of 1.39. The company has a fifty day moving average price of $43.51 and a 200-day moving average price of $43.02.

Hedge Funds Weigh In On Sphere Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC boosted its stake in Sphere Entertainment by 826.1% during the fourth quarter. Sterling Capital Management LLC now owns 852 shares of the company’s stock worth $34,000 after acquiring an additional 760 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Sphere Entertainment during the fourth 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 worth $53,000 after purchasing an additional 681 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Sphere Entertainment by 149.5% in the 4th quarter. Blue Trust Inc. now owns 1,522 shares of the company’s stock valued at $67,000 after buying an additional 912 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Sphere Entertainment in the 4th quarter valued at about $93,000. 92.03% of the stock is currently owned by institutional investors.

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.