Rep. Gilbert Ray Cisneros, Jr. Buys Sphere Entertainment Co. (NYSE:SPHR) Shares

Representative Gilbert Ray Cisneros, Jr. (D-California) recently bought shares of Sphere Entertainment Co. (NYSE:SPHR). In a filing disclosed on May 06th, the Representative disclosed that they had bought between $15,001 and $50,000 in Sphere Entertainment stock on April 4th. The trade occurred in the Representative's "150 MAIN STREET TRUST > WELLS FARGO ADVISORS" account.

• The 5 Hottest CEO Stock Purchases So Far This Year

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Beiersdorf Aktiengesellschaft OTCMKTS: BDRFF on 5/2/2025.
• Purchased $1,001 - $15,000 in shares of Alkami Technology NASDAQ: ALKT on 4/30/2025.
• Purchased $1,001 - $15,000 in shares of Merck & Co., Inc. NYSE: MRK on 4/29/2025.
• Sold $1,001 - $15,000 in shares of DXC Technology NYSE: DXC on 4/29/2025.
• Sold $1,001 - $15,000 in shares of DOW NYSE: DOW on 4/29/2025.
• Sold $1,001 - $15,000 in shares of Zions Bancorporation, National Association NASDAQ: ZION on 4/29/2025.
• Purchased $1,001 - $15,000 in shares of O'Reilly Automotive NASDAQ: ORLY on 4/29/2025.
• Purchased $1,001 - $15,000 in shares of McKesson NYSE: MCK on 4/29/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 4/29/2025.
• Sold $1,001 - $15,000 in shares of Humana NYSE: HUM on 4/29/2025.

Sphere Entertainment Trading Up 2.3 %

NYSE:SPHR opened at $29.66 on Thursday. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $50.88. The firm has a market cap of $1.06 billion, a PE ratio of -2.82 and a beta of 1.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $30.19 and a 200 day moving average price of $38.16.

Institutional Investors Weigh In On Sphere Entertainment

Large investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. lifted its position in shares of Sphere Entertainment by 35.7% in the first quarter. Pinnacle Associates Ltd. now owns 66,945 shares of the company's stock valued at $2,190,000 after acquiring an additional 17,623 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Sphere Entertainment by 152.0% during the 1st quarter. Victory Capital Management Inc. now owns 56,392 shares of the company's stock worth $1,845,000 after purchasing an additional 34,015 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Sphere Entertainment during the first quarter worth about $1,359,000. Janney Montgomery Scott LLC acquired a new position in shares of Sphere Entertainment in the first quarter valued at approximately $225,000. Finally, SG Americas Securities LLC boosted its position in Sphere Entertainment by 765.8% during the first quarter. SG Americas Securities LLC now owns 99,597 shares of the company's stock worth $3,259,000 after acquiring an additional 88,093 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Insiders Place Their Bets

In related news, insider F. Dolan 2009 Revocabl Charles sold 55,385 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $33.80, for a total transaction of $1,872,013.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 25.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Sphere Entertainment from $57.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Susquehanna assumed coverage on Sphere Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $37.00 target price on the stock. Benchmark restated a "sell" rating on shares of Sphere Entertainment in a research report on Monday, March 3rd. Guggenheim restated a "buy" rating and issued a $69.00 price objective on shares of Sphere Entertainment in a research note on Wednesday, April 23rd. Finally, Morgan Stanley lowered their target price on shares of Sphere Entertainment from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $45.67.

View Our Latest Report on Sphere Entertainment

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California's 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California's 31st Congressional District. He declared candidacy for the 2026 election. Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor's degree in political science from George Washington University in 1994, a master's in business administration from Regis University in 2002, and a master's degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

Sphere Entertainment Company Profile

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.

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