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

TKO Group (NYSE:TKO) had its price target hoisted by Pivotal Research from $145.00 to $165.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently commented on TKO. The Goldman Sachs Group upped their price objective on shares of TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Benchmark downgraded TKO Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on TKO Group from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Bank of America started coverage on shares of TKO Group in a research note on Tuesday, August 20th. They issued a “buy” rating and a $140.00 target price for the company. Finally, UBS Group boosted their price objective on TKO Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.43.

TKO Group Stock Performance

Shares of TKO opened at $137.96 on Tuesday. The stock has a 50 day moving average price of $124.54 and a 200 day moving average price of $115.61. TKO Group has a 52-week low of $72.33 and a 52-week high of $139.45. The company has a market capitalization of $23.56 billion, a price-to-earnings ratio of -328.48 and a beta of 1.06. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

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

Insider Transactions at TKO Group

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 42,156 shares of the company’s stock, valued at $4,837,822.56. This trade represents a 42.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its holdings in TKO Group by 267.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company’s stock worth $142,640,000 after acquiring an additional 961,880 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of 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 purchasing an additional 557,444 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of TKO Group by 59.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company’s stock valued at $119,940,000 after purchasing an additional 362,460 shares in the last quarter. American Century Companies Inc. lifted its stake in TKO Group by 1,439.7% in the second quarter. American Century Companies Inc. now owns 307,405 shares of the company’s stock valued at $33,197,000 after buying an additional 287,440 shares during the period. Finally, State Street Corp grew its position in shares of TKO Group by 10.4% during the 3rd quarter. State Street Corp now owns 2,052,916 shares of the company’s stock worth $253,966,000 after buying an additional 192,602 shares during the period. Institutional investors and hedge funds 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.