Pivotal Research Issues Positive Forecast for TKO Group (NYSE:TKO) Stock Price

TKO Group (NYSE:TKO) had its price target boosted by analysts at Pivotal Research from $140.00 to $145.00 in a research report issued on Thursday, Briefing.com reports. The brokerage presently has a “buy” rating on the stock. Pivotal Research’s price target suggests a potential upside of 20.61% from the company’s current price.

A number of other research firms also recently weighed in on TKO. Morgan Stanley increased their price target on shares of TKO Group from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Roth Mkm boosted their price target on TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Cowen raised their price objective on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Bank of America started coverage on shares of TKO Group in a report on Tuesday, August 20th. They issued a “buy” rating and a $140.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, TKO Group has an average rating of “Moderate Buy” and an average price target of $130.64.

TKO Group Stock Performance

TKO Group stock opened at $120.22 on Thursday. The stock has a fifty day moving average price of $121.31 and a 200 day moving average price of $112.32. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. TKO Group has a 52 week low of $72.33 and a 52 week high of $130.95. The firm has a market capitalization of $20.51 billion, a P/E ratio of -125.23 and a beta of 1.06.

TKO Group (NYSE:TKO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.10). TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The company had revenue of $851.20 million for the quarter, compared to analysts’ expectations of $771.54 million. During the same quarter in the previous year, the company earned $0.91 earnings per share. The company’s revenue was up 178.9% on a year-over-year basis. Equities research analysts anticipate that TKO Group will post 4.07 earnings per share for the current year.

Insider Activity at TKO Group

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the sale, the insider now directly owns 42,156 shares in the company, valued at $4,837,822.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 53.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in TKO Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 6,074,522 shares of the company’s stock worth $524,899,000 after purchasing an additional 79,166 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of 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 boosted its holdings in shares of TKO Group by 3.1% in the 2nd quarter. Darlington Partners Capital Management LP now owns 3,065,703 shares of the company’s stock valued at $331,065,000 after buying an additional 90,868 shares during the period. XN LP raised 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 acquiring an additional 996,161 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in TKO Group by 9.5% in the second quarter. Clearbridge Investments LLC now owns 1,800,784 shares of the company’s stock worth $194,467,000 after acquiring an additional 155,940 shares during the last quarter. 89.79% of the stock is 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.