TKO Group (NYSE:TKO) Coverage Initiated at Pivotal Research

Pivotal Research began coverage on shares of TKO Group (NYSE:TKO) in a research report report published on Friday, MarketBeat reports. The brokerage issued a buy rating and a $170.00 price objective on the stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on TKO Group from $126.00 to $132.00 and gave the company an overweight rating in a research note on Friday, August 9th. The Goldman Sachs Group restated a buy rating and issued a $132.00 price target on shares of TKO Group in a research note on Thursday, September 12th. Redburn Atlantic began coverage on TKO Group in a research note on Thursday, July 18th. They issued a buy rating and a $129.00 price target for the company. Roth Mkm boosted their price target on TKO Group from $121.00 to $130.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, TD Cowen upped their target price on TKO Group from $127.00 to $140.00 and gave the company a buy rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, TKO Group presently has a consensus rating of Moderate Buy and a consensus target price of $127.13.

TKO Group Stock Up 1.7 %

TKO stock opened at $117.33 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $19.98 billion, a PE ratio of -116.17 and a beta of 1.04. TKO Group has a 1-year low of $72.33 and a 1-year high of $120.70. The business’s 50 day simple moving average is $113.12 and its 200 day simple moving average is $103.33.

TKO Group (NYSE:TKO) last posted its 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 business had revenue of $851.20 million for the quarter, compared to analyst estimates of $771.54 million. TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The firm’s revenue was up 178.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, research analysts anticipate that TKO Group will post 4.17 EPS for the current year.

Insiders Place Their Bets

In other TKO Group news, Director Nick Khan sold 22,693 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 220,018 shares of the company’s stock, valued at approximately $23,218,499.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Nick Khan sold 22,693 shares of the stock in a transaction dated 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 owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark S. Shapiro sold 31,026 shares of the 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 completion of the sale, the insider now directly owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. The disclosure for this sale can be found here. Insiders own 53.80% of the company’s stock.

Institutional Investors Weigh In On TKO Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of TKO Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,074,522 shares of the company’s stock valued at $524,899,000 after buying an additional 79,166 shares during the period. Ninety One UK Ltd grew its stake in TKO Group by 15.9% during the second quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company’s stock worth $439,004,000 after purchasing an additional 557,444 shares during the period. Darlington Partners Capital Management LP grew its stake in TKO Group by 3.1% during the second quarter. Darlington Partners Capital Management LP now owns 3,065,703 shares of the company’s stock worth $331,065,000 after purchasing an additional 90,868 shares during the period. XN LP grew 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 purchasing an additional 996,161 shares during the period. Finally, Clearbridge Investments LLC grew its stake in TKO Group by 9.5% during the second quarter. Clearbridge Investments LLC now owns 1,800,784 shares of the company’s stock worth $194,467,000 after purchasing an additional 155,940 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

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.