Morgan Stanley Maintains Sphere Entertainment Co’s Equal Weight Recommendation – (SPHR)

Fintel reports that on May 26, 2023, Morgan Stanley maintained coverage of Sphere Entertainment Co – (NYSE:SPHR) with a Equal weight recommendation.

Analyst price forecast suggests 200.76% upside

As of May 11, 2023, the one-year average price target for Sphere Entertainment Co – is 74.80. The forecast ranges from a low of 70.70 to a high of $81.90. The average price target represents a 200.76% increase from its last published closing price of 24.87.

Check out our ranking of companies with the biggest upward price target.

The expected annual revenue for Sphere Entertainment Co – is 2,002 million, an increase of 3.43%. Projected annual non-GAAP EPS is -1.05.

What is fund sentiment?

There are 404 funds or institutions reporting positions in Sphere Entertainment Co -. This is an increase of 3 owner(s) or 0.75% over the last quarter. Average portfolio weight of all funds dedicated to SPHR is 0.22%, an increase of 17.80%. The total number of shares held by institutions has decreased by 0.99% over the past three months to 32,908,000 shares. SPHR’s put/call ratio is 0.06, indicating a bullish outlook.

What are the other shareholders doing?

Ariel Investments holds 6,660,000 shares representing 19.27% ​​ownership of the company. In its previous filing, the company stated that it holds 6,693,000 shares, representing a decrease by 0.49%. The company increase its portfolio allocation in SPHR of 21.24% over the last quarter.

ARGFX – Ariel Fund Investor Class owns 2,727,000 shares representing 7.89% ownership of the company. In its previous filing, the company said it held 2,310,000 shares, representing a raise of 15.29%. The company increase its portfolio allocation in SPHR by 10.10% in the last quarter.

Price T Rowe Associates owns 2,020,000 shares representing 5.84% ownership of the company. In its previous filing, the company stated that it holds 1,926,000 shares, representing a raise of 4.63%. The company increase its portfolio allocation in SPHR by 28.18% in the last quarter.

TRMCX – T. Rowe Price Mid-Cap Value Fund holds 1,164,000 shares representing 3.37% ownership of the company. In its previous filing, the company said it held 946,000 shares, representing a raise of 18.78%. The company increase its portfolio allocation in SPHR by 15.68% in the last quarter.

Channing Capital Management holds 1,129,000 shares representing 3.27% ownership of the company. In its previous filing, the company said it held 1,112,000 shares, which represents a raise of 1.49%. The company increase its portfolio allocation in SPHR by 34.90% in the last quarter.

General information about Sphere Entertainment
(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 wide range of events at its diverse collection of venues: New York’s Madison Square Garden, the Hulu Theater at Madison Square Garden, Radio City Music Hall and the Beacon Theater; and the Chicago Theater. 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 presents 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 dining and nightlife brands such as Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cathedral.

This story originally appeared on Fintel.

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