TKO Group (NYSE:TKO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

TKO Group (NYSE:TKO) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $218.00 to $220.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 12.81% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. BTIG Research restated a “buy” rating and issued a $235.00 price objective on shares of TKO Group in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TKO Group in a research note on Monday, November 24th. Guggenheim lifted their target price on shares of TKO Group from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Bank of America upped their target price on shares of TKO Group from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.85.

TKO Group Stock Up 0.2%

Shares of TKO opened at $195.02 on Tuesday. The business’s fifty day moving average price is $189.19 and its two-hundred day moving average price is $181.00. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 74.72 and a beta of 0.65. TKO Group has a 52 week low of $133.07 and a 52 week high of $212.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.46 and a current ratio of 1.46.

TKO Group (NYSE:TKO) last released its earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.11). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. TKO Group had a return on equity of 2.57% and a net margin of 5.27%.The company’s revenue was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, analysts predict that TKO Group will post 3.88 earnings per share for the current year.

TKO Group declared that its Board of Directors has initiated a stock buyback plan on Monday, September 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Nick Khan sold 9,519 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $188.26, for a total transaction of $1,792,046.94. Following the completion of the sale, the director owned 118,504 shares of the company’s stock, valued at $22,309,563.04. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. B. Bynoe acquired 740 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were bought at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the acquisition, the director owned 5,187 shares of the company’s stock, valued at $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 19,800 shares of company stock worth $3,815,989 over the last quarter. 53.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TKO Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. grew its holdings in shares of TKO Group by 350.0% in the 2nd quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in TKO Group by 840.0% during the second quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock worth $26,000 after acquiring an additional 126 shares in the last quarter. Cromwell Holdings LLC boosted its position in TKO Group by 1,360.0% during the third quarter. Cromwell Holdings LLC now owns 146 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the last quarter. Hemington Wealth Management grew its stake in TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares in the last quarter. Finally, Atlantic Union Bankshares Corp grew its stake in TKO Group by 1,680.0% in the third quarter. Atlantic Union Bankshares Corp now owns 178 shares of the company’s stock valued at $36,000 after purchasing an additional 168 shares in the last quarter. 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.