TKO Group (NYSE:TKO) Stock Price Expected to Rise, Pivotal Research Analyst Says

TKO Group (NYSE:TKO) had its price target upped by Pivotal Research from $145.00 to $165.00 in a research note released on Tuesday, MarketBeat.com reports. Pivotal Research currently has a buy rating on the stock.

A number of other analysts have also recently commented on TKO. TD Cowen lifted their price target on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on TKO Group from $132.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their target price on TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Roth Mkm raised their price target on shares of TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley upped their price objective on shares of TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.43.

TKO Group Price Performance

Shares of TKO stock opened at $137.28 on Tuesday. The firm has a market capitalization of $23.44 billion, a price-to-earnings ratio of -326.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50-day simple moving average is $123.63 and its 200-day simple moving average is $115.03. TKO Group has a fifty-two week low of $72.33 and a fifty-two week high of $139.09.

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

Insiders Place Their Bets

In other news, insider Mark S. Shapiro sold 31,026 shares of the stock in a transaction that occurred on 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 in the company, valued at $4,837,822.56. This trade represents a 42.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 53.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TKO Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank grew its position in shares of TKO Group by 5.5% in the first quarter. Comerica Bank now owns 28,979 shares of the company’s stock valued at $2,504,000 after purchasing an additional 1,503 shares during the period. GAMMA Investing LLC boosted its holdings in TKO Group by 388.6% in the 2nd quarter. GAMMA Investing LLC now owns 513 shares of the company’s stock worth $55,000 after buying an additional 408 shares during the last quarter. Park Avenue Securities LLC increased its stake in TKO Group by 5.8% during the 2nd quarter. Park Avenue Securities LLC now owns 8,108 shares of the company’s stock worth $876,000 after buying an additional 448 shares in the last quarter. Annex Advisory Services LLC lifted its position in shares of TKO Group by 23.8% in the second quarter. Annex Advisory Services LLC now owns 205,469 shares of the company’s stock valued at $22,189,000 after acquiring an additional 39,559 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of TKO Group by 109.8% in the second quarter. SG Americas Securities LLC now owns 3,323 shares of the company’s stock worth $359,000 after acquiring an additional 1,739 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

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.