Guggenheim Boosts TKO Group (NYSE:TKO) Price Target to $140.00

TKO Group (NYSE:TKO) had its price objective increased by equities research analysts at Guggenheim from $135.00 to $140.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 14.51% from the stock’s previous close.

Several other research firms also recently weighed in on TKO. Roth Mkm lifted their target price on shares of TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Redburn Atlantic began coverage on TKO Group in a research report on Thursday, July 18th. They set a “buy” rating and a $129.00 target price on the stock. UBS Group raised their price target on TKO Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley boosted their price objective on TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, TD Cowen raised their target price on TKO Group from $127.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.47.

TKO Group Price Performance

TKO Group stock opened at $122.26 on Monday. The business’s 50 day simple moving average is $116.49 and its 200 day simple moving average is $106.57. TKO Group has a 12 month low of $72.33 and a 12 month high of $125.49. The company has a market cap of $20.82 billion, a price-to-earnings ratio of -121.05 and a beta of 1.04. 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 (NYSE:TKO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.10). TKO Group had a negative net margin of 3.14% and a positive return on equity of 3.10%. The firm had revenue of $851.20 million for the quarter, compared to analysts’ expectations of $771.54 million. During the same period in the prior year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 178.9% on a year-over-year basis. Sell-side analysts forecast that TKO Group will post 4.17 EPS for the current year.

Insider Buying and Selling

In other news, insider Mark S. Shapiro sold 31,026 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the sale, the insider now owns 42,156 shares in the company, valued at approximately $4,837,822.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $114.76, for a total value of $3,560,543.76. Following the completion of the transaction, the insider now directly owns 42,156 shares in the company, valued at approximately $4,837,822.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nick Khan sold 22,693 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.53, for a total value of $2,394,792.29. Following the transaction, the director now directly owns 220,018 shares in the company, valued at $23,218,499.54. The disclosure for this sale can be found here. 53.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On TKO Group

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of TKO Group by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 5,995,356 shares of the company’s stock valued at $489,101,000 after acquiring an additional 1,002,121 shares during the last quarter. XN LP lifted its position in TKO Group by 100.9% in the first quarter. XN LP now owns 1,983,346 shares of the company’s stock valued at $171,381,000 after purchasing an additional 996,161 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of TKO Group by 267.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company’s stock valued at $142,640,000 after purchasing an additional 961,880 shares during the period. Ninety One UK Ltd grew its holdings in shares of TKO Group by 15.9% in 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 last quarter. Finally, Fairview Capital Investment Management LLC purchased a new position in shares of TKO Group in the first quarter worth $43,999,000. 89.79% of the stock is currently 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.