Stock Traders Buy High Volume of Put Options on TKO Group (NYSE:TKO)

TKO Group Holdings, Inc. (NYSE:TKO) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 5,061 put options on the company. This is an increase of approximately 72% compared to the typical daily volume of 2,945 put options.

Analyst Upgrades and Downgrades

TKO has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on TKO Group from $132.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Guggenheim lifted their price objective on TKO Group from $135.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 30th. UBS Group lifted their price objective on TKO Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 9th. The Goldman Sachs Group lifted their price objective on TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Roth Mkm lifted their price objective on TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.00.

Insider Buying and Selling

In related news, insider Mark S. Shapiro sold 31,026 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares of the company’s stock, valued at $4,837,822.56. This trade represents a 42.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TKO. XN LP raised its holdings in TKO Group by 100.9% in the 1st quarter. XN LP now owns 1,983,346 shares of the company’s stock valued at $171,381,000 after acquiring an additional 996,161 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in TKO Group by 267.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company’s stock valued at $142,640,000 after acquiring an additional 961,880 shares during the last quarter. Ninety One UK Ltd raised its holdings in TKO Group by 15.9% in the 2nd quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company’s stock valued at $439,004,000 after acquiring an additional 557,444 shares during the last quarter. Fairview Capital Investment Management LLC purchased a new stake in shares of TKO Group during the 1st quarter valued at $43,999,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of TKO Group by 59.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company’s stock valued at $119,940,000 after buying an additional 362,460 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Trading Up 1.5 %

Shares of TKO Group stock opened at $132.82 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. TKO Group has a 1 year low of $72.33 and a 1 year high of $134.11. The company has a market capitalization of $22.68 billion, a P/E ratio of -316.24 and a beta of 1.06. The business has a 50 day moving average price of $122.39 and a 200 day moving average price of $114.12.

TKO Group (NYSE:TKO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.28). TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company had revenue of $681.20 million for the quarter, compared to analyst estimates of $665.12 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 51.7% on a year-over-year basis. Sell-side analysts anticipate that TKO Group will post 3.88 EPS for the current fiscal year.

TKO Group Company Profile

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.