TKO Group (NYSE:TKO) Hits New 12-Month High After Insider Buying Activity

TKO Group Holdings, Inc. (NYSE:TKO)’s share price hit a new 52-week high on Monday after an insider bought additional shares in the company. The stock traded as high as $145.98 and last traded at $145.85, with a volume of 344807 shares traded. The stock had previously closed at $141.92.

Specifically, CEO Ariel Emanuel bought 60,208 shares of TKO Group stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $143.73 per share, with a total value of $8,653,695.84. Following the acquisition, the chief executive officer now owns 1,734,530 shares in the company, valued at $249,303,996.90. This trade represents a 3.60 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Patrick Whitesell purchased 245,887 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $142.45 per share, with a total value of $35,026,603.15. Following the purchase, the insider now owns 1,825,030 shares of the company’s stock, valued at $259,975,523.50. This represents a 15.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, major shareholder Patrick Whitesell acquired 31,352 shares of TKO Group stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $142.03 per share, for a total transaction of $4,452,924.56. Following the completion of the purchase, the insider now directly owns 1,674,322 shares of the company’s stock, valued at approximately $237,803,953.66. This represents a 1.91 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TKO shares. Roth Mkm upped their price target on shares of TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen lifted their price target on TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Bank of America assumed coverage on TKO Group in a research report on Tuesday, August 20th. They set a “buy” rating and a $140.00 price objective for the company. Finally, Guggenheim boosted their target price on TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.79.

TKO Group Trading Up 0.2 %

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of -350.83 and a beta of 1.09. The firm’s 50-day moving average is $129.06 and its 200 day moving average is $118.96.

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

Institutional Trading of TKO Group

Several hedge funds have recently modified their holdings of the stock. Petrus Trust Company LTA acquired a new stake in TKO Group in the third quarter worth $597,000. HighTower Advisors LLC boosted its position in shares of TKO Group by 177.2% during the 3rd quarter. HighTower Advisors LLC now owns 26,197 shares of the company’s stock worth $3,225,000 after purchasing an additional 16,746 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of TKO Group by 29.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock valued at $210,892,000 after buying an additional 383,869 shares during the period. Central Pacific Bank Trust Division increased its position in TKO Group by 499.8% in the 3rd quarter. Central Pacific Bank Trust Division now owns 5,998 shares of the company’s stock valued at $742,000 after buying an additional 4,998 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in TKO Group by 14.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,753 shares of the company’s stock worth $56,010,000 after buying an additional 56,312 shares during the period. Institutional investors own 89.79% of the company’s stock.

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.