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

TKO Group (NYSE:TKO) had its price target hoisted by stock analysts at Citigroup from $137.00 to $170.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 19.60% from the stock’s current price.

Other analysts have also issued research reports about the stock. Benchmark lowered shares of TKO Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Cowen lifted their price target on shares of TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Guggenheim increased their price objective on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Bank of America began coverage on TKO Group in a research note on Tuesday, August 20th. They issued a “buy” rating and a $140.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and a consensus target price of $136.79.

TKO Group Trading Down 3.5 %

TKO opened at $142.14 on Tuesday. The stock has a market cap of $24.27 billion, a PE ratio of -338.43 and a beta of 1.09. 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 has a twelve month low of $75.35 and a twelve month high of $149.40. The company has a fifty day moving average of $129.36 and a 200-day moving average of $119.13.

TKO Group (NYSE:TKO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 earnings per share 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 business had revenue of $681.20 million during the quarter, compared to the consensus estimate of $665.12 million. During the same period last year, the business posted $0.52 earnings per share. The business’s revenue was up 51.7% on a year-over-year basis. On average, sell-side analysts predict that TKO Group will post 3.88 EPS for the current year.

Insiders Place Their Bets

In other TKO Group news, major shareholder Patrick Whitesell acquired 31,352 shares of TKO Group stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $142.03 per share, for a total transaction of $4,452,924.56. Following the purchase, the insider now directly owns 1,674,322 shares of the company’s stock, valued at $237,803,953.66. This trade represents a 1.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ariel Emanuel bought 60,208 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the purchase, the chief executive officer now directly owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This trade represents a 3.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 600,647 shares of company stock valued at $86,815,728. Corporate insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of TKO Group by 52.4% in the 3rd quarter. Blue Trust Inc. now owns 259 shares of the company’s stock worth $32,000 after purchasing an additional 89 shares during the period. First Horizon Advisors Inc. increased its position in TKO Group by 491.5% in the third quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock worth $34,000 after buying an additional 231 shares during the last quarter. Signaturefd LLC raised its stake in shares of TKO Group by 39.4% in the third quarter. Signaturefd LLC now owns 386 shares of the company’s stock valued at $48,000 after buying an additional 109 shares during the period. Quarry LP purchased a new position in shares of TKO Group during the 2nd quarter valued at $51,000. Finally, International Assets Investment Management LLC grew its stake in shares of TKO Group by 12,275.0% during the 3rd quarter. International Assets Investment Management LLC now owns 495 shares of the company’s stock worth $61,000 after acquiring an additional 491 shares during the period. 89.79% of the stock is currently owned by hedge funds and other 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.