News

Fintel reports that on August 24, 2023, Morgan Stanley maintained coverage of Sphere Entertainment Co - (NYSE:SPHR) with a Equal-Weight recommendation.

Analyst Price Forecast Suggests 25.01% Downside

As of August 2, 2023, the average one-year price target for Sphere Entertainment Co - is 25.84. The forecasts range from a low of 25.25 to a high of $27.30. The average price target represents a decrease of 25.01% from its latest reported closing price of 34.46.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sphere Entertainment Co - is 2,646MM, an increase of 361.11%. The projected annual non-GAAP EPS is 2.27.

What is the Fund Sentiment?

There are 393 funds or institutions reporting positions in Sphere Entertainment Co -. This is a decrease of 10 owner(s) or 2.48% in the last quarter. Average portfolio weight of all funds dedicated to SPHR is 0.16%, a decrease of 26.99%. Total shares owned by institutions increased in the last three months by 8.11% to 35,583K shares.

The put/call ratio of SPHR is 0.41, indicating a bullish outlook.

What are Other Shareholders Doing?

Ariel Investments holds 5,387K shares representing 15.59% ownership of the company. In it's prior filing, the firm reported owning 6,660K shares, representing a decrease of 23.64%. The firm decreased its portfolio allocation in SPHR by 62.30% over the last quarter.

ARGFX - Ariel Fund Investor Class holds 2,529K shares representing 7.32% ownership of the company. In it's prior filing, the firm reported owning 2,692K shares, representing a decrease of 6.44%. The firm decreased its portfolio allocation in SPHR by 57.51% over the last quarter.

Price T Rowe Associates holds 2,144K shares representing 6.20% ownership of the company. In it's prior filing, the firm reported owning 2,020K shares, representing an increase of 5.78%. The firm decreased its portfolio allocation in SPHR by 54.44% over the last quarter.

TRMCX - T. Rowe Price Mid-Cap Value Fund holds 1,224K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 1,164K shares, representing an increase of 4.86%. The firm increased its portfolio allocation in SPHR by 34.97% over the last quarter.

Channing Capital Management holds 1,088K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 1,129K shares, representing a decrease of 3.72%. The firm decreased its portfolio allocation in SPHR by 57.31% over the last quarter.

Sphere Entertainment Background Information
(This description is provided by the company.)

Madison Square Garden Entertainment Corp. (MSG Entertainment) is a leader in live entertainment experiences. The Company presents or hosts a broad array of events in its diverse collection of venues: New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; and The Chicago Theatre. MSG Entertainment is also building a new state-of-the-art venue in Las Vegas, MSG Sphere at The Venetian, and has announced plans to build a second MSG Sphere in London, pending necessary approvals. In addition, the Company features the original production - the Christmas Spectacular Starring the Radio City Rockettes - and through Boston Calling Events, produces the Boston Calling Music Festival. Also under the MSG Entertainment umbrella is Tao Group Hospitality, with entertainment dining and nightlife brands including Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cathédrale.

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