Bank of America Issues Positive Forecast for TKO Group (NYSE:TKO) Stock Price

TKO Group (NYSE:TKO) had its price objective lifted by research analysts at Bank of America from $200.00 to $210.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 9.69% from the company’s current price.

TKO has been the topic of several other research reports. Morgan Stanley reaffirmed an “outperform” rating on shares of TKO Group in a report on Sunday. Northcoast Research downgraded shares of TKO Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. Sanford C. Bernstein began coverage on shares of TKO Group in a report on Wednesday, June 4th. They set an “outperform” rating and a $190.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of TKO Group from $170.00 to $188.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of TKO Group from $158.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.15.

TKO Group Price Performance

NYSE TKO opened at $191.45 on Tuesday. The stock has a market capitalization of $37.89 billion, a P/E ratio of 79.11 and a beta of 0.72. TKO Group has a 1 year low of $113.16 and a 1 year high of $191.51. The business’s fifty day moving average is $171.13 and its two-hundred day moving average is $161.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30.

TKO Group (NYSE:TKO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. TKO Group’s quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts forecast that TKO Group will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peter C. B. Bynoe acquired 980 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $169.59 per share, with a total value of $166,198.20. Following the completion of the transaction, the director owned 2,747 shares of the company’s stock, valued at approximately $465,863.73. This represents a 55.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nick Khan sold 45,168 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the completion of the transaction, the director directly owned 156,494 shares of the company’s stock, valued at $26,732,305.08. This trade represents a 22.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,725 shares of company stock valued at $12,501,561. Insiders own 61.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TKO. Focus Partners Advisor Solutions LLC grew its stake in TKO Group by 3.6% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,835 shares of the company’s stock worth $261,000 after buying an additional 63 shares during the last quarter. Howe & Rusling Inc. lifted its holdings in TKO Group by 4.7% in the second quarter. Howe & Rusling Inc. now owns 1,603 shares of the company’s stock valued at $292,000 after buying an additional 72 shares during the period. CreativeOne Wealth LLC lifted its holdings in TKO Group by 3.0% in the second quarter. CreativeOne Wealth LLC now owns 2,503 shares of the company’s stock valued at $455,000 after buying an additional 73 shares during the period. Retirement Systems of Alabama lifted its holdings in TKO Group by 0.5% in the second quarter. Retirement Systems of Alabama now owns 14,385 shares of the company’s stock valued at $2,617,000 after buying an additional 77 shares during the period. Finally, Simon Quick Advisors LLC lifted its holdings in TKO Group by 1.1% in the first quarter. Simon Quick Advisors LLC now owns 7,558 shares of the company’s stock valued at $1,155,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds 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.