Citigroup Forecasts Strong Price Appreciation for TKO Group (NYSE:TKO) Stock

TKO Group (NYSE:TKO) had its price target upped by Citigroup from $137.00 to $170.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Roth Mkm increased their price target on shares of TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Benchmark downgraded shares of TKO Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Cowen lifted their price target on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Pivotal Research upped their price objective on TKO Group from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America assumed coverage on TKO Group in a research note on Tuesday, August 20th. They set a “buy” rating and a $140.00 target price for the company. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.79.

TKO Group Stock Performance

TKO opened at $143.79 on Tuesday. The business’s 50-day simple moving average is $129.70 and its 200 day simple moving average is $119.30. TKO Group has a 52-week low of $75.35 and a 52-week high of $149.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $24.55 billion, a PE ratio of -342.36 and a beta of 1.09.

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 the consensus estimate of $0.56 by ($0.28). The company had revenue of $681.20 million for the quarter, compared to analyst estimates of $665.12 million. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The firm’s revenue for the quarter was up 51.7% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that TKO Group will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Patrick Whitesell acquired 245,887 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $142.45 per share, for a total transaction of $35,026,603.15. Following the purchase, the insider now directly owns 1,825,030 shares in the company, valued at approximately $259,975,523.50. The trade was a 15.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ariel Emanuel bought 60,208 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $143.73 per share, with a total value of $8,653,695.84. Following the completion of the transaction, the chief executive officer now owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This trade represents a 3.60 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 600,647 shares of company stock worth $86,815,728. Corporate insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of TKO Group by 109.8% in the 2nd quarter. SG Americas Securities LLC now owns 3,323 shares of the company’s stock valued at $359,000 after purchasing an additional 1,739 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in TKO Group in the second quarter valued at about $222,000. Envestnet Portfolio Solutions Inc. grew its position in TKO Group by 10.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,156 shares of the company’s stock valued at $341,000 after acquiring an additional 286 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in TKO Group by 8.9% during the second quarter. Nisa Investment Advisors LLC now owns 5,114 shares of the company’s stock worth $552,000 after acquiring an additional 419 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of TKO Group in the second quarter worth about $274,000. 89.79% of the stock is owned by institutional investors.

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.