TKO Group (NYSE:TKO) Given New $170.00 Price Target at Citigroup

TKO Group (NYSE:TKO) had its price target hoisted by Citigroup from $137.00 to $170.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts have also recently commented on TKO. Guggenheim upped their target price on TKO Group from $135.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price objective on TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. TD Cowen raised their target price on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Bank of America began 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. Finally, Pivotal Research lifted their price target on shares of TKO Group from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three investment 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 has a consensus rating of “Moderate Buy” and an average price target of $136.79.

TKO Group Stock Performance

NYSE:TKO opened at $147.35 on Tuesday. The stock’s 50-day moving average is $129.06 and its 200-day moving average is $118.96. The stock has a market cap of $25.16 billion, a P/E ratio of -350.83 and a beta of 1.09. TKO Group has a 1-year low of $75.35 and a 1-year high of $149.40. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO) last announced its quarterly earnings results 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). The business had revenue of $681.20 million during the quarter, compared to analyst estimates of $665.12 million. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The company’s revenue was up 51.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. Equities research analysts anticipate that TKO Group will post 3.88 earnings per share for the current year.

Insiders Place Their Bets

In other TKO Group news, major shareholder Patrick Whitesell bought 245,887 shares of TKO Group stock in a transaction dated 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 completion of the acquisition, the insider now directly owns 1,825,030 shares in the company, valued at approximately $259,975,523.50. The trade was a 15.57 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ariel Emanuel purchased 60,208 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the acquisition, the chief executive officer now directly owns 1,734,530 shares of the company’s stock, valued at $249,303,996.90. This trade represents a 3.60 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 337,447 shares of company stock valued at $48,133,224 in the last three months. 53.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TKO Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Petrus Trust Company LTA purchased a new position in TKO Group in the third quarter valued at about $597,000. HighTower Advisors LLC increased its holdings in TKO Group by 177.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,197 shares of the company’s stock worth $3,225,000 after acquiring an additional 16,746 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in 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 acquiring an additional 383,869 shares during the period. Central Pacific Bank Trust Division lifted its holdings in TKO Group by 499.8% during the third quarter. Central Pacific Bank Trust Division now owns 5,998 shares of the company’s stock valued at $742,000 after purchasing an additional 4,998 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of TKO Group by 11.0% during the 3rd quarter. Retirement Systems of Alabama now owns 80,707 shares of the company’s stock valued at $9,984,000 after buying an additional 8,006 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other 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.