Sphere Entertainment Co. Class A (SPHR)

In the past six months, Sphere Entertainment Co.'s stock reached a new 52-week high on October 28, 2025. As of October 16, 2025, the share price was $59.65, up from $47.63 on October 17, 2024, showing a significant increase over the last year. JPMorgan Chase & Co. upgraded its price objective for Sphere Entertainment, and BTIG Research initiated coverage with a "neutral" rating. Wall Street Zen upgraded the stock from "sell" to "hold", and Morgan Stanley also increased its price objective. The company's Q2 CY2025 earnings report showed revenues of $282.68 million, surpassing analysts' expectations, with earnings per share (EPS) of $3.39, significantly exceeding consensus estimates. However, Sphere Entertainment's Q2 revenue fell short of analysts' expectations, and the company delivered the weakest performance against analyst estimates within its peer group for the quarter.

Sphere Entertainment Co. aims to mitigate demand seasonality by running multiple event types on the same day and throughout the year. The Sphere venue in Las Vegas is designed to host a variety of events year-round, including its original immersive productions, concerts, residencies, and major sports and corporate events. The company has implemented strategies to show the Sphere experience on the same day as residencies and plans to do so during major events like the Formula One Grand Prix and New Year's Eve runs. Corporate partnerships and keynote events also contribute to a more consistent demand profile.

Sphere Entertainment Co. operates as a live entertainment and media company, divided into Sphere and MSG Networks segments. The Sphere segment delivers multi-sensory experiences through advanced technologies in venues like the Sphere in Las Vegas, hosting immersive productions, concerts, residencies, and sports/corporate events. The MSG Networks segment operates regional sports and entertainment networks, offering live sports content and other programming through direct-to-consumer and authenticated streaming products.

Sphere Entertainment Co. has a significant presence in the United States, with its flagship Sphere venue in Las Vegas and other prominent venues in New York City and Chicago. The company is actively pursuing global expansion, indicated by a franchise initiation fee and marketing partnership with Experience Abu Dhabi.

Sphere Entertainment Co. has garnered significant brand recognition due to its "viral Las Vegas Sphere venue." The success of "The Wizard of Oz at Sphere," which opened on August 28, 2025, has positively impacted its reputation, selling over 1 million tickets and generating more than $130 million in ticket sales. The venue has also successfully hosted high-profile events such as UFC and extended residencies for artists like The Eagles, further enhancing its appeal. The company is actively developing new productions and experiences for 2025.

Approximately 31.58% to 46.96% of Sphere Entertainment Co.'s stock is owned by institutional investors, 5.37% by insiders, and 15.37% to 47.67% by public companies and individual investors. Major institutional owners include Ariel Investments, Llc, Jericho Capital Asset Management L.P., Vanguard Group Inc, BlackRock, Inc., Morgan Stanley, Dimensional Fund Advisors Lp, Point72 Asset Management, L.P., Steadfast Capital Management Lp, and Gamco Investors, Inc. Et Al. John Rogers owns the most shares among individual investors.