Sphere Entertainment (SPHR)

• Market cap: $2.17B
• 1 day: 3.36%
• 5 days: 11.69%
• 1 month: 51.22%
• 3 months: 52.59%
• 6 months: 84.49%
• Year to date: 45.24%
• 1 year: 44.34%
• 5 years: -20.42%
• 10 years: -7.71%
• Sector: Communication Services
• Industry: Entertainment

About: Sphere Entertainment Co is a live entertainment and media company. The firm creates, writes, casts, produces, and tours shows and events. The group has two reportable segments which includeSphere and MSG Networks. Sphere is a next-generation entertainment medium, and MSG Networks operates two regional sports and entertainment networks, as well as a direct-to-consumer (DTC) and authenticated streaming product.

Employees: 3,100

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

58% more repeat investments, than reductions

Existing positions increased: 79 | Existing positions reduced: 50

39% more first-time investments, than exits

New positions opened: 43 | Existing positions closed: 31

27% more capital invested

Capital invested by funds: $1.17B [Q1] → $1.48B (+$312M) [Q2]

13% more call options, than puts

Call options by funds: $63.4M | Put options by funds: $56.1M

5% more funds holding

Funds holding: 211 [Q1] → 221 (+10) [Q2]

1.76% less ownership

Funds ownership: 123.19% [Q1] → 121.43% (-1.76%) [Q2]

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $40
• Avg. target: $64
• High target: $76

3 analyst ratings

• positive: 2 67%
• neutral: 1 33%
• negative: 0 0%

Guggenheim Curry Baker	$76	Buy Maintained	10 Sep 2025
Morgan Stanley Benjamin Swinburne	$40	Equal-Weight Maintained	12 Aug 2025
Craig-Hallum Ryan Sigdahl	$75	Buy Initiated	23 Jun 2025