JPMorgan Chase & Co. Boosts TKO Group (NYSE:TKO) Price Target to $126.00

TKO Group (NYSE:TKO) had its price objective boosted by JPMorgan Chase & Co. from $103.00 to $126.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

TKO has been the topic of several other reports. TD Cowen raised TKO Group from a hold rating to a buy rating and increased their price target for the company from $92.00 to $127.00 in a report on Wednesday, May 15th. Morgan Stanley began coverage on TKO Group in a research note on Wednesday, February 14th. They issued an equal weight rating and a $95.00 price objective for the company. Northcoast Research began coverage on TKO Group in a research note on Tuesday, February 6th. They issued a buy rating and a $105.00 price objective for the company. Bank of America began coverage on TKO Group in a research note on Friday, March 15th. They issued a buy rating and a $100.00 price objective for the company. Finally, Jefferies Financial Group upped their price objective on TKO Group from $120.00 to $131.00 and gave the stock a buy rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $113.46.

TKO Group Price Performance

NYSE TKO opened at $109.10 on Wednesday. The business’s fifty day moving average price is $98.05 and its 200-day moving average price is $86.88. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of -108.02 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. TKO Group has a 1-year low of $72.33 and a 1-year high of $111.07.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Wednesday, May 8th. The company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $0.51 by $1.63. The firm had revenue of $629.70 million for the quarter, compared to analysts’ expectations of $609.28 million. TKO Group had a positive return on equity of 4.15% and a negative net margin of 4.14%. On average, equities analysts predict that TKO Group will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In other TKO Group news, major shareholder Vincent K. Mcmahon sold 1,642,970 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $89.01, for a total value of $146,240,759.70. Following the completion of the sale, the insider now owns 9,875,129 shares in the company, valued at approximately $878,985,232.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 53.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in TKO Group in the third quarter worth about $1,649,000. Victory Capital Management Inc. purchased a new position in shares of TKO Group during the third quarter worth approximately $10,602,000. abrdn plc purchased a new position in shares of TKO Group during the third quarter worth approximately $12,921,000. Clearbridge Investments LLC purchased a new position in shares of TKO Group during the third quarter worth approximately $118,378,000. Finally, First Trust Bank Ltd. purchased a new position in shares of TKO Group during the fourth quarter worth approximately $3,034,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

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.