Sphere Entertainment (SPHR)

• Market cap: $981M
• 1 day: -3.54%
• 5 days: 8.65%
• 1 month: -16.72%
• 3 months: -40.98%
• 6 months: -35.76%
• Year to date: -34.35%
• 1 year: -29.88%
• 5 years: -67.05%
• 10 years: -58.29%
• 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 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

234% more call options, than puts

Call options by funds: $182M | Put options by funds: $54.5M

48% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 27

15% more repeat investments, than reductions

Existing positions increased: 75 | Existing positions reduced: 65

5% more funds holding

Funds holding: 211 [Q3] → 221 (+10) [Q4]

4.33% more ownership

Funds ownership: 113.01% [Q3] → 117.34% (+4.33%) [Q4]

4% less capital invested

Capital invested by funds: $1.42B [Q3] → $1.37B (-$53.5M) [Q4]

50% less funds holding in top 10

Funds holding in top 10: 2 [Q3] → 1 (-1) [Q4]

Research analyst outlook

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

• Low target: $32 17% upside
• Avg. target: $46 70% upside
• High target: $69 153% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Susquehanna Joseph Stauff 41% 1-year accuracy 15 / 37 met price target	36% upside $37	Positive Initiated	28 Apr 2025
Guggenheim Curry Baker 27% 1-year accuracy 10 / 37 met price target	153% upside $69	Buy Reiterated	23 Apr 2025
Morgan Stanley Benjamin Swinburne 70% 1-year accuracy 14 / 20 met price target	17% upside $32	Equal-Weight Maintained	10 Apr 2025
Macquarie Paul Golding 23% 1-year accuracy 12 / 53 met price target	47% upside $40	Neutral Maintained	11 Mar 2025
JP Morgan David Karnovsky 48% 1-year accuracy 13 / 27 met price target	98% upside $54	Overweight Maintained	4 Mar 2025