TKO Group (NYSE:TKO) Hits New 52-Week High - Here's What Happened

TKO Group Holdings, Inc. (NYSE:TKO - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $174.60 and last traded at $173.39, with a volume of 1999349 shares traded. The stock had previously closed at $166.37.

Analyst Ratings Changes

A number of equities analysts have issued reports on TKO shares. Citigroup upped their target price on TKO Group from $137.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Seaport Res Ptn cut TKO Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Benchmark lowered TKO Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. UBS Group upped their target price on TKO Group from $135.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upped their target price on TKO Group from $137.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $148.08.

TKO Group Trading Up 0.6 %

The firm has a fifty day simple moving average of $149.62 and a 200-day simple moving average of $131.65. The firm has a market cap of $29.99 billion, a P/E ratio of -418.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17.

Insiders Place Their Bets

In other news, CEO Ariel Emanuel bought 60,208 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $143.73 per share, with a total value of $8,653,695.84. Following the completion of the transaction, the chief executive officer now directly owns 1,734,530 shares of the company's stock, valued at $249,303,996.90. This represents a 3.60 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Patrick Whitesell bought 31,352 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $142.03 per share, with a total value of $4,452,924.56. Following the completion of the transaction, the insider now directly owns 1,674,322 shares of the company's stock, valued at approximately $237,803,953.66. The trade was a 1.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,498,297 shares of company stock worth $387,671,461 and have sold 71,457 shares worth $10,153,456. Corporate insiders own 53.80% of the company's stock.

Institutional Trading of TKO Group

A number of large investors have recently bought and sold shares of TKO. AQR Capital Management LLC purchased a new stake in TKO Group in the second quarter worth $232,000. CWM LLC increased its position in TKO Group by 92.3% in the third quarter. CWM LLC now owns 646 shares of the company's stock worth $80,000 after buying an additional 310 shares during the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of TKO Group by 2.7% in the third quarter. Sumitomo Life Insurance Co. now owns 9,351 shares of the company's stock worth $1,157,000 after acquiring an additional 250 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of TKO Group by 2.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,351 shares of the company's stock worth $1,157,000 after acquiring an additional 250 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of TKO Group by 52.4% in the third quarter. Blue Trust Inc. now owns 259 shares of the company's stock worth $32,000 after acquiring an additional 89 shares during the period. 89.79% of the stock is owned by hedge funds and other 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.