The stock of Sphere Entertainment Co (NYSE: SPHR) has decreased by -5.25 when compared to last closing price of 40.73.Despite this, the company has seen a loss of -13.71% in its stock price over the last five trading days. Market Watch reported 2024-04-08 that Sphere Entertainment Co. was downgraded from buy to neutral by Seaport Research Partners Monday, pointing to a “potentially softer” next couple of quarters for the Las Vegas entertainment venue.
Is It Worth Investing in Sphere Entertainment Co (NYSE: SPHR) Right Now?
The price-to-earnings ratio for Sphere Entertainment Co (NYSE: SPHR) is 3.65x, which is above its average ratio. Moreover, the 36-month beta value for SPHR is 1.45. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SPHR is 26.43M and currently, short sellers hold a 22.94% of that float. On April 18, 2024, SPHR’s average trading volume was 709.07K shares.
SPHR’s Market Performance
SPHR’s stock has seen a -13.71% decrease for the week, with a -16.35% drop in the past month and a 27.23% gain in the past quarter. The volatility ratio for the week is 5.61%, and the volatility levels for the past 30 days are at 4.10% for Sphere Entertainment Co. The simple moving average for the past 20 days is -15.66% for SPHR’s stock, with a 2.55% simple moving average for the past 200 days.
Analysts’ Opinion of SPHR
BofA Securities, on the other hand, stated in their research note that they expect to see SPHR reach a price target of $43. The rating they have provided for SPHR stocks is “Neutral” according to the report published on February 07th, 2024.
SPHR Trading at -13.19% from the 50-Day Moving Average
After a stumble in the market that brought SPHR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -25.55% of loss for the given period.
Volatility was left at 4.10%, however, over the last 30 days, the volatility rate increased by 5.61%, as shares sank -18.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.98% lower at present.
During the last 5 trading sessions, SPHR fell by -13.71%, which changed the moving average for the period of 200-days by +40.89% in comparison to the 20-day moving average, which settled at $45.33. In addition, Sphere Entertainment Co saw 13.63% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SPHR starting from GREENBERG ANDREA, who sale 12,131 shares at the price of $51.00 back on Mar 08 ’24. After this action, GREENBERG ANDREA now owns 76,650 shares of Sphere Entertainment Co, valued at $618,694 using the latest closing price.
DOLAN JAMES LAWRENCE, the Executive Chairman / CEO of Sphere Entertainment Co, purchase 110,156 shares at $46.88 during a trade that took place back on Mar 04 ’24, which means that DOLAN JAMES LAWRENCE is holding 630,195 shares at $5,164,270 based on the most recent closing price.
Stock Fundamentals for SPHR
Current profitability levels for the company are sitting at:
- -2.25 for the present operating margin
- 0.4 for the gross margin
The net margin for Sphere Entertainment Co stands at 1.62. The total capital return value is set at -0.15. Equity return is now at value 8.88, with 3.70 for asset returns.
Based on Sphere Entertainment Co (SPHR), the company’s capital structure generated 0.38 points at debt to capital in total, while cash flow to debt ratio is standing at 0.03. The debt to equity ratio resting at 0.62. The interest coverage ratio of the stock is -4.43.
Currently, EBITDA for the company is 398.64 million with net debt to EBITDA at 3.96. When we switch over and look at the enterprise to sales, we see a ratio of 9.91. The receivables turnover for the company is 1.07for trailing twelve months and the total asset turnover is 0.05. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.62.
Conclusion
To wrap up, the performance of Sphere Entertainment Co (SPHR) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
