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

TKO Group Holdings, Inc. (NYSE:TKO) shares reached a new 52-week high on Thursday after The Goldman Sachs Group raised their price target on the stock from $132.00 to $138.00. The Goldman Sachs Group currently has a buy rating on the stock. TKO Group traded as high as $125.56 and last traded at $125.51, with a volume of 229559 shares. The stock had previously closed at $124.08.

Several other brokerages have also weighed in on TKO. Pivotal Research initiated coverage on shares of TKO Group in a research report on Friday, September 13th. They set a “buy” rating and a $170.00 price objective on the stock. TD Cowen upped their price objective on shares of TKO Group from $127.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, August 12th. UBS Group increased their target price on shares of TKO Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Guggenheim boosted their price target on TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Roth Mkm increased their price objective on TKO Group from $121.00 to $130.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.93.

Insider Buying and Selling

In other news, Director Nick Khan sold 22,693 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the completion of the transaction, the director now owns 220,018 shares of the company’s stock, valued at approximately $23,218,499.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mark S. Shapiro sold 31,026 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the completion of the transaction, the insider now owns 42,156 shares in the company, valued at approximately $4,837,822.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nick Khan sold 22,693 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the transaction, the director now directly owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of TKO Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 6,074,522 shares of the company’s stock valued at $524,899,000 after purchasing an additional 79,166 shares during the period. Ninety One UK Ltd boosted its stake 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 buying an additional 557,444 shares in the last quarter. Darlington Partners Capital Management LP grew its position in TKO Group by 3.1% in the second quarter. Darlington Partners Capital Management LP now owns 3,065,703 shares of the company’s stock valued at $331,065,000 after acquiring an additional 90,868 shares during the period. XN LP raised its stake in TKO Group by 100.9% during the first quarter. XN LP now owns 1,983,346 shares of the company’s stock worth $171,381,000 after acquiring an additional 996,161 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of TKO Group by 9.5% during the second quarter. Clearbridge Investments LLC now owns 1,800,784 shares of the company’s stock valued at $194,467,000 after acquiring an additional 155,940 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

TKO Group Price Performance

The company’s 50 day moving average price is $117.20 and its 200 day moving average price is $106.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $21.65 billion, a price-to-earnings ratio of -125.78 and a beta of 1.04.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.10). TKO Group had a negative net margin of 3.14% and a positive return on equity of 3.10%. The firm had revenue of $851.20 million during the quarter, compared to analyst estimates of $771.54 million. During the same quarter last year, the firm earned $0.91 earnings per share. TKO Group’s quarterly revenue was up 178.9% on a year-over-year basis. On average, equities research analysts predict that TKO Group Holdings, Inc. will post 4.17 earnings per share for the current fiscal year.

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.