TKO Group (NYSE:TKO) Hits New 52-Week High Following Analyst Upgrade

TKO Group Holdings, Inc. (NYSE:TKO)’s share price hit a new 52-week high during mid-day trading on Wednesday after Pivotal Research raised their price target on the stock from $145.00 to $165.00. Pivotal Research currently has a buy rating on the stock. TKO Group traded as high as $139.45 and last traded at $139.00, with a volume of 127602 shares traded. The stock had previously closed at $137.28.

A number of other research analysts also recently issued reports on TKO. UBS Group boosted their price target on TKO Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on TKO Group from $132.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Bank of America began coverage on TKO Group in a research note on Tuesday, August 20th. They issued a “buy” rating and a $140.00 price target for the company. Morgan Stanley boosted their price objective on shares of TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Roth Mkm raised their target price 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.43.

Insider Activity

In other news, insider Mark S. Shapiro sold 31,026 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 42,156 shares in the company, valued at $4,837,822.56. This trade represents a 42.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 53.80% of the company’s stock.

Hedge Funds Weigh In On TKO Group

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in TKO Group by 52.4% in the third quarter. Blue Trust Inc. now owns 259 shares of the company’s stock worth $32,000 after buying an additional 89 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in TKO Group by 491.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock worth $34,000 after acquiring an additional 231 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in TKO Group in the 2nd quarter worth approximately $36,000. Signaturefd LLC boosted its stake in TKO Group by 39.4% during the 3rd quarter. Signaturefd LLC now owns 386 shares of the company’s stock valued at $48,000 after purchasing an additional 109 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of TKO Group in the 2nd quarter worth $51,000. Institutional investors own 89.79% of the company’s stock.

TKO Group Trading Up 0.7 %

The firm has a market cap of $23.60 billion, a P/E ratio of -329.07 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 has a fifty day simple moving average of $124.27 and a 200 day simple moving average of $115.45.

TKO Group (NYSE:TKO) last issued its earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). The business had revenue of $681.20 million during 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%. TKO Group’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same period last year, the firm posted $0.52 EPS. On average, research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share 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.