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

TKO Group (NYSE:TKO) had its price target upped by stock analysts at Guggenheim from $175.00 to $190.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 18.92% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Morgan Stanley increased their price target on TKO Group from $128.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Seaport Res Ptn raised TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Pivotal Research reiterated a “buy” rating and issued a $195.00 price target (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. The Goldman Sachs Group raised their price objective on shares of TKO Group from $142.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Susquehanna initiated coverage on shares of TKO Group in a report on Monday, April 28th. They issued a “positive” rating and a $180.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TKO Group has a consensus rating of “Moderate Buy” and a consensus price target of $162.33.

TKO Group Price Performance

Shares of NYSE TKO opened at $159.77 on Friday. The stock has a market cap of $27.35 billion, a P/E ratio of -380.40 and a beta of 0.73. The firm’s 50-day simple moving average is $151.47 and its 200 day simple moving average is $145.92. TKO Group has a fifty-two week low of $98.99 and a fifty-two week high of $179.09. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.07 billion. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. TKO Group’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.26) EPS. Equities analysts expect that TKO Group will post 3.88 EPS for the current year.

Insider Activity

In other TKO Group news, CEO Ariel Emanuel acquired 116,256 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was purchased at an average cost of $172.03 per share, for a total transaction of $19,999,519.68. Following the transaction, the chief executive officer now owns 2,305,222 shares of the company’s stock, valued at $396,567,340.66. The trade was a 5.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Patrick Whitesell bought 156,446 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average price of $175.60 per share, for a total transaction of $27,471,917.60. Following the acquisition, the insider now directly owns 2,461,668 shares in the company, valued at $432,268,900.80. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 414,204 shares of company stock worth $71,689,438. 53.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TKO Group

A number of institutional investors have recently modified their holdings of TKO. Ontario Teachers Pension Plan Board raised its holdings in shares of TKO Group by 77.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 3,172 shares of the company’s stock worth $485,000 after acquiring an additional 1,381 shares in the last quarter. Deutsche Bank AG raised its stake in shares of TKO Group by 76.5% during the 1st quarter. Deutsche Bank AG now owns 180,441 shares of the company’s stock worth $27,573,000 after purchasing an additional 78,204 shares in the last quarter. Altfest L J & Co. Inc. lifted its holdings in shares of TKO Group by 39.5% during the 1st quarter. Altfest L J & Co. Inc. now owns 4,753 shares of the company’s stock valued at $726,000 after buying an additional 1,346 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of TKO Group by 37.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 645,515 shares of the company’s stock valued at $98,641,000 after buying an additional 176,226 shares in the last quarter. Finally, Hemington Wealth Management increased its holdings in TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock worth $25,000 after buying an additional 136 shares during the last quarter. 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.