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

TKO Group (NYSE:TKO - Get Free Report) had its price target hoisted by analysts at Pivotal Research from $140.00 to $145.00 in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Pivotal Research's price target points to a potential upside of 23.00% from the stock's previous close.

TKO has been the subject of several other research reports. Roth Mkm increased their price objective on shares of TKO Group from $146.00 to $148.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of TKO Group from $126.00 to $132.00 and gave the stock an "overweight" rating in a research report on Friday, August 9th. Morgan Stanley raised their target price 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. Benchmark downgraded TKO Group from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Finally, Bank of America started coverage on TKO Group in a research report on Tuesday, August 20th. They set a "buy" rating and a $140.00 price target on the stock. Three 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.com, TKO Group currently has an average rating of "Moderate Buy" and a consensus price target of $131.00.

TKO Group Price Performance

Shares of TKO Group stock traded down $2.33 during mid-day trading on Thursday, reaching $117.89. 1,769,021 shares of the stock were exchanged, compared to its average volume of 1,059,114. The company has a market cap of $20.12 billion, a price-to-earnings ratio of -124.52 and a beta of 1.06. The firm has a 50-day simple moving average of $121.31 and a 200 day simple moving average 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 fifty-two week low of $72.33 and a fifty-two week high of $130.95.

TKO Group (NYSE:TKO - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.10). The business had revenue of $851.20 million during the quarter, compared to the consensus estimate of $771.54 million. TKO Group had a negative net margin of 3.14% and a positive return on equity of 3.10%. The firm's revenue for the quarter was up 178.9% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. On average, sell-side analysts predict that TKO Group will post 4.07 EPS for the current fiscal year.

Insider Transactions at TKO Group

In related news, insider Mark S. Shapiro sold 31,026 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 42,156 shares in the company, valued at approximately $4,837,822.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 53.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TKO. Quest Partners LLC purchased a new stake in TKO Group during the 3rd quarter worth approximately $715,000. Thrivent Financial for Lutherans lifted its stake in TKO Group by 9.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 15,608 shares of the company's stock worth $1,931,000 after acquiring an additional 1,376 shares in the last quarter. Chesapeake Capital Corp IL purchased a new position in TKO Group in the 3rd quarter valued at approximately $1,016,000. Mutual of America Capital Management LLC boosted its stake in shares of TKO Group by 6.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 35,905 shares of the company's stock valued at $4,442,000 after buying an additional 2,179 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of TKO Group by 237.0% during the third quarter. Natixis Advisors LLC now owns 43,576 shares of the company's stock worth $5,391,000 after purchasing an additional 30,647 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

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.