According to Fintel’s report on May 26, 2023, Morgan Stanley is continuing its coverage of Sphere Entertainment Co – (NYSE: SPHR) with an Equal-Weight recommendation.
As of May 11, 2023, Sphere Entertainment Co – has an average one-year price target of $74.80, representing an increase of 200.76% from its latest reported closing price of $24.87. The price target forecasts range from a low of $70.70 to a high of $81.90.
There are currently 404 funds or institutions reporting positions in Sphere Entertainment Co-. Of the funds, the average portfolio weight dedicated to SPHR is 0.22%, an increase of 17.80%. While the total shares owned by the institutions decreased by 0.99% to 32,908K shares. The put/call ratio of SPHR is 0.06, indicating a bullish outlook.
Regarding other shareholders, Ariel Investments holds 6,660K shares, representing 19.27% ownership of the company. In contrast, Price T Rowe Associates holds 2,020K shares, representing 5.84% ownership of the company.
Sphere Entertainment Co – is a leader in live entertainment experiences, including a wide variety of venues such as Madison Square Garden and The Chicago Theatre. The company also produces Boston Calling Music Festival and has under its umbrella Tao Group Hospitality, featuring entertaining dining and nightlife brands like Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cathédrale.
This story first appeared on Fintel.
The author expresses views and opinions that do not reflect those of Nasdaq, Inc.
