Sphere Entertainment (NYSE:SPHR) Stock Rating Cut to “Hold” at Craig Hallum

Craig Hallum downgraded shares of Sphere Entertainment (NYSE:SPHR) from a buy rating to a hold rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have $132.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of Sphere Entertainment from $150.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. BTIG Research reissued a “buy” rating on shares of Sphere Entertainment in a report on Monday, September 28th. New Street Research set a $188.00 price target on Sphere Entertainment in a report on Tuesday, July 14th. Benchmark raised their price target on Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Guggenheim lifted their price objective on Sphere Entertainment from $193.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sphere Entertainment currently has an average rating of “Moderate Buy” and an average price target of $168.29.

Sphere Entertainment Price Performance

SPHR opened at $110.73 on Monday. The company’s 50-day simple moving average is $147.73 and its two-hundred day simple moving average is $141.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $3.98 billion, a P/E ratio of -41.32 and a beta of 1.61. Sphere Entertainment has a 52-week low of $57.01 and a 52-week high of $181.63.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) EPS for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.44. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The firm had revenue of $313.64 million during the quarter, compared to analyst estimates of $307.44 million. During the same period in the previous year, the business posted $3.39 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts predict that Sphere Entertainment will post -2.34 EPS for the current year.

Institutional Trading of Sphere Entertainment

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Sphere Entertainment by 7.1% in the 2nd quarter. GAMMA Investing LLC now owns 961 shares of the company’s stock valued at $166,000 after purchasing an additional 64 shares during the last quarter. Arizona State Retirement System increased its position in shares of Sphere Entertainment by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 7,111 shares of the company’s stock valued at $1,230,000 after purchasing an additional 75 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Sphere Entertainment by 19.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the last quarter. Vision Retirement LLC raised its holdings in Sphere Entertainment by 38.0% during the 1st quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after buying an additional 133 shares during the period. Finally, Corient Private Wealth LP raised its holdings in Sphere Entertainment by 1.3% during the 2nd quarter. Corient Private Wealth LP now owns 15,930 shares of the company’s stock valued at $2,756,000 after buying an additional 198 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment News Roundup

Here are the key news stories impacting Sphere Entertainment this week:

• Positive Sentiment: Unusually heavy options activity provided a limited bullish signal, with investors purchasing 9,775 call options—far above the typical daily volume. However, options activity does not necessarily indicate a change in the company’s fundamentals.
• Neutral Sentiment: Craig-Hallum’s new $132 target remains above the stock’s referenced trading level, implying potential upside despite the more cautious Hold rating. Craig-Hallum downgrade and price-target update
• Negative Sentiment: Analysts said demand for Sphere’s “The Wizard of Oz” attraction is softening faster than expected, raising concerns about attendance, revenue growth and the sustainability of Wall Street’s bullish assumptions. Sphere Entertainment demand concerns
• Negative Sentiment: The downgrade and $38 reduction in the price target triggered broad selling and caused the stock to gap lower, as investors reassessed the company’s near-term growth prospects. Why Sphere Entertainment stock is sinking
• Negative Sentiment: The news is particularly significant because Sphere Entertainment remains unprofitable, making attendance trends and future event demand important drivers of investor confidence and valuation.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment company focused on developing and operating large-scale live experiences, media properties and venues. Its flagship asset is Sphere, a next-generation entertainment venue in Las Vegas featuring a wraparound interior display, immersive audio and experiential programming. Sphere presents concerts, films, sporting events and other productions designed to combine live performance with advanced visual and audio technology.

The company also operates MSG Networks, a regional sports and entertainment media business serving audiences primarily in the New York metropolitan area.