TKO Group (NYSE:TKO – Get Free Report) had its price objective increased by investment analysts at Robert W. Baird from $225.00 to $250.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 24.17% from the stock’s current price.
Several other analysts have also recently weighed in on the stock. Guggenheim raised their price objective on shares of TKO Group from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Sanford C. Bernstein began coverage on shares of TKO Group in a research report on Wednesday, June 4th. They set an “outperform” rating and a $190.00 price objective on the stock. Baird R W upgraded shares of TKO Group to a “strong-buy” rating in a research report on Friday, September 5th. Northcoast Research cut shares of TKO Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 10th. Finally, Roth Capital lifted their target price on shares of TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and a consensus price target of $196.50.
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TKO Group Stock Performance
NYSE TKO opened at $201.33 on Tuesday. TKO Group has a 1 year low of $114.01 and a 1 year high of $212.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $39.92 billion, a PE ratio of 83.19 and a beta of 0.79. The company’s 50 day simple moving average is $180.64 and its two-hundred day simple moving average is $166.21.
TKO Group (NYSE:TKO – Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 53.7% compared to the same quarter last year. Analysts predict that TKO Group will post 3.88 earnings per share for the current fiscal year.
TKO Group declared that its Board of Directors has initiated a stock repurchase program on Monday, September 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Insider Activity
In other news, Director Peter C. B. Bynoe bought 740 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was acquired at an average cost of $203.00 per share, with a total value of $150,220.00. Following the completion of the acquisition, the director owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. This represents a 16.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nick Khan sold 45,168 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the transaction, the director directly owned 156,494 shares of the company’s stock, valued at $26,732,305.08. The trade was a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,725 shares of company stock valued at $12,767,807 over the last ninety days. Corporate insiders own 61.30% of the company’s stock.
Institutional Trading of TKO Group
Several large investors have recently added to or reduced their stakes in TKO. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TKO Group in the first quarter worth approximately $1,163,000. Friedenthal Financial bought a new position in shares of TKO Group in the first quarter worth approximately $895,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of TKO Group in the first quarter worth approximately $464,000. Ninety One SA PTY Ltd boosted its position in shares of TKO Group by 3.4% in the first quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company’s stock worth $10,902,000 after purchasing an additional 2,330 shares during the period. Finally, Asset Management One Co. Ltd. bought a new position in shares of TKO Group in the first quarter worth approximately $297,000. 89.79% of the stock is currently owned by institutional investors.
TKO Group Company Profile
(Get Free Report)
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.
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