TKO Group (NYSE:TKO) Price Target Raised to $118.00

TKO Group (NYSE:TKO) had its target price increased by Morgan Stanley from $115.00 to $118.00 in a report published on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on TKO. Roth Mkm lifted their target price on TKO Group from $121.00 to $130.00 and gave the company a buy rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on TKO Group from $103.00 to $126.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. TD Cowen raised TKO Group from a hold rating to a buy rating and lifted their target price for the company from $92.00 to $127.00 in a research note on Wednesday, May 15th. Redburn Atlantic initiated coverage on TKO Group in a research note on Thursday, July 18th. They set a buy rating and a $129.00 target price on the stock. Finally, Jefferies Financial Group boosted their price target on TKO Group from $120.00 to $131.00 and gave the company a buy rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TKO Group has an average rating of Moderate Buy and an average price target of $117.71.

TKO Group Trading Up 0.6 %

TKO traded up $0.75 during trading on Friday, reaching $117.67. The company had a trading volume of 1,288,516 shares, compared to its average volume of 1,144,812. The firm’s 50-day simple moving average is $108.24 and its 200 day simple moving average is $97.50. The company has a market cap of $20.04 billion, a price-to-earnings ratio of -116.50 and a beta of 1.04. TKO Group has a 12-month low of $72.33 and a 12-month high of $120.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.10). The company had revenue of $851.20 million during the quarter, compared to analysts’ expectations of $771.54 million. TKO Group had a positive return on equity of 4.15% and a negative net margin of 4.14%. The company’s revenue for the quarter was up 178.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. Equities research analysts anticipate that TKO Group will post 4.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Nick Khan sold 22,693 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $105.53, for a total value of $2,394,792.29. Following the completion of the sale, the director now directly owns 220,018 shares in the company, valued at approximately $23,218,499.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TKO. Arizona State Retirement System lifted its holdings in shares of TKO Group by 48.5% during the fourth quarter. Arizona State Retirement System now owns 18,353 shares of the company’s stock worth $1,497,000 after buying an additional 5,995 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of TKO Group during the fourth quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of TKO Group by 32.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 527,787 shares of the company’s stock worth $43,057,000 after buying an additional 129,196 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of TKO Group by 9.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 37,064 shares of the company’s stock worth $3,024,000 after buying an additional 3,110 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of TKO Group during the fourth quarter worth approximately $1,379,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

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.