Sphere Entertainment (SPHR)

• Market cap: $870M
• 1 day: -4.33%
• 5 days: -12.35%
• 1 month: -24.34%
• 3 months: -41.04%
• 6 months: -46.40%
• Year to date: -41.51%
• 1 year: -41.41%
• 5 years: -62.21%
• 10 years: -72.57%
• 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

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

• Low target: $32 32% upside
• Avg. target: $42 73% upside
• High target: $54 122% upside

3 analyst ratings

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

Morgan Stanley Benjamin Swinburne 50% 1-year accuracy 10 / 20 met price target	32% upside $32	Equal-Weight Maintained	10 Apr 2025
Macquarie Paul Golding 17% 1-year accuracy 9 / 52 met price target	65% upside $40	Neutral Maintained	11 Mar 2025
JP Morgan David Karnovsky 48% 1-year accuracy 13 / 27 met price target	122% upside $54	Overweight Maintained	4 Mar 2025