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

TKO Group Holdings, Inc. (NYSE:TKO)’s stock price hit a new 52-week high during trading on Monday following insider buying activity. The company traded as high as $145.98 and last traded at $145.85, with a volume of 344807 shares trading hands. The stock had previously closed at $141.92.

Specifically, CEO Ariel Emanuel acquired 60,208 shares of TKO Group stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $143.73 per share, with a total value of $8,653,695.84. Following the completion of the purchase, the chief executive officer now owns 1,734,530 shares of the company’s stock, valued at $249,303,996.90. This represents a 3.60 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Patrick Whitesell purchased 245,887 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $142.45 per share, for a total transaction of $35,026,603.15. Following the completion of the purchase, the insider now directly owns 1,825,030 shares in the company, valued at approximately $259,975,523.50. This trade represents a 15.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, major shareholder Patrick Whitesell purchased 31,352 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average price of $142.03 per share, with a total value of $4,452,924.56. Following the acquisition, the insider now directly owns 1,674,322 shares in the company, valued at approximately $237,803,953.66. The trade was a 1.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

TKO has been the subject of a number of recent analyst reports. Bank of America assumed coverage on TKO Group in a research report on Tuesday, August 20th. They set a “buy” rating and a $140.00 price target for the company. Guggenheim raised their target price 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. The Goldman Sachs Group boosted their price target 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. Benchmark lowered shares of TKO Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, TD Cowen increased their target price on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.93.

TKO Group Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50-day moving average is $128.24 and its two-hundred day moving average is $118.42. The company has a market cap of $24.91 billion, a P/E ratio of -344.57 and a beta of 1.09.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.28). The company had revenue of $681.20 million during the quarter, compared to analysts’ expectations of $665.12 million. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company’s revenue was up 51.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. Analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

Institutional Trading of TKO Group

Institutional investors have recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its stake in shares of TKO Group by 11.0% during the 3rd quarter. Retirement Systems of Alabama now owns 80,707 shares of the company’s stock worth $9,984,000 after purchasing an additional 8,006 shares during the period. Tidal Investments LLC lifted its stake in shares of TKO Group by 259.1% during the 3rd quarter. Tidal Investments LLC now owns 21,803 shares of the company’s stock worth $2,697,000 after acquiring an additional 15,732 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in TKO Group during the 3rd quarter valued at $426,000. Sanctuary Advisors LLC grew its position in TKO Group by 38.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,712 shares of the company’s stock valued at $911,000 after acquiring an additional 1,858 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in TKO Group in the third quarter worth $221,000. 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.