TKO Group (NYSE:TKO) Coverage Initiated at Pivotal Research

Investment analysts at Pivotal Research assumed coverage on shares of TKO Group (NYSE:TKO) in a report issued on Friday, MarketBeat reports. The firm set a “buy” rating and a $170.00 price target on the stock. Pivotal Research’s target price points to a potential upside of 47.39% from the company’s current price.

Several other equities research analysts have also issued reports on TKO. JPMorgan Chase & Co. raised their price target on shares of TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. The Goldman Sachs Group restated a “buy” rating and set a $132.00 price target on shares of TKO Group in a research note on Thursday. Bank of America initiated coverage on shares of TKO Group in a research note on Tuesday, August 20th. They issued a “buy” rating and a $140.00 price objective for the company. TD Cowen lifted their price objective on shares of TKO Group from $127.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Redburn Atlantic initiated coverage on shares of TKO Group in a research note on Thursday, July 18th. They issued a “buy” rating and a $129.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, TKO Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.13.

TKO Group Price Performance

TKO Group stock opened at $115.34 on Friday. The company’s 50 day moving average price is $113.01 and its two-hundred day moving average price is $102.95. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. TKO Group has a 52 week low of $72.33 and a 52 week high of $120.70. The stock has a market cap of $19.68 billion, a P/E ratio of -114.20 and a beta of 1.04.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.10). TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The company had revenue of $851.20 million for the quarter, compared to analysts’ expectations of $771.54 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 178.9% on a year-over-year basis. On average, equities analysts predict that TKO Group will post 4.17 earnings per share for the current year.

Insider Activity

In other news, Director Nick Khan sold 22,693 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the completion of the transaction, the director now directly owns 220,018 shares in the company, valued at approximately $23,218,499.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 53.80% of the company’s stock.

Institutional Trading of TKO Group

Hedge funds have recently made changes to their positions in the stock. MFA Wealth Advisors LLC bought a new stake in shares of TKO Group during the 2nd quarter worth $36,000. Quarry LP bought a new stake in shares of TKO Group during the 2nd quarter worth $51,000. GAMMA Investing LLC lifted its holdings in shares of TKO Group by 388.6% during the 2nd quarter. GAMMA Investing LLC now owns 513 shares of the company’s stock worth $55,000 after acquiring an additional 408 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of TKO Group during the 4th quarter worth $79,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of TKO Group by 1,384.4% during the 1st quarter. Sunbelt Securities Inc. now owns 1,143 shares of the company’s stock worth $99,000 after acquiring an additional 1,066 shares during the last quarter. 89.79% of the stock is owned by institutional investors.

About TKO Group

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.