TKO Group (NYSE:TKO) Hits New 52-Week High After Insider Buying Activity

TKO Group Holdings, Inc. (NYSE:TKO)’s share price hit a new 52-week high during mid-day trading on Thursday following insider buying activity. The company traded as high as $149.98 and last traded at $149.50, with a volume of 117172 shares. The stock had previously closed at $142.93.

Specifically, CEO Ariel Emanuel purchased 115,952 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $143.85 per share, for a total transaction of $16,679,695.20. Following the completion of the acquisition, the chief executive officer now directly owns 1,031,804 shares in the company, valued at $148,425,005.40. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Patrick Whitesell purchased 108,476 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was bought at an average price of $144.13 per share, for a total transaction of $15,634,645.88. Following the completion of the transaction, the insider now directly owns 915,852 shares in the company, valued at approximately $132,001,748.76. The trade was a 13.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, major shareholder Patrick Whitesell bought 125,589 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $143.06 per share, with a total value of $17,966,762.34. Following the completion of the transaction, the insider now directly owns 807,376 shares in the company, valued at $115,503,210.56. This represents a 18.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Pivotal Research lifted their price objective on TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Guggenheim lifted their price target on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Roth Mkm increased their price objective 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. The Goldman Sachs Group lifted their target price on shares of TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, TKO Group has an average rating of “Moderate Buy” and an average price target of $139.29.

TKO Group Trading Up 4.8 %

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 stock has a market cap of $25.57 billion, a P/E ratio of -356.95 and a beta of 1.07. The company has a 50-day simple moving average of $140.00 and a 200-day simple moving average of $125.27.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.28). TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company had revenue of $681.20 million for the quarter, compared to analyst estimates of $665.12 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s quarterly revenue was up 51.7% on a year-over-year basis. On average, sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

Institutional Trading of TKO Group

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in TKO Group by 52.4% during the 3rd quarter. Blue Trust Inc. now owns 259 shares of the company’s stock worth $32,000 after buying an additional 89 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of TKO Group during the fourth quarter worth $32,000. First Horizon Advisors Inc. lifted its stake in shares of TKO Group by 491.5% during the third quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock valued at $34,000 after acquiring an additional 231 shares during the period. UMB Bank n.a. boosted its holdings in TKO Group by 72.8% in the fourth quarter. UMB Bank n.a. now owns 273 shares of the company’s stock valued at $39,000 after acquiring an additional 115 shares during the last quarter. Finally, Signaturefd LLC increased its position in TKO Group by 39.4% in the third quarter. Signaturefd LLC now owns 386 shares of the company’s stock worth $48,000 after purchasing an additional 109 shares during the period. 89.79% of the stock is owned by institutional investors.

TKO Group Company Profile

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.