TKO Group (NYSE:TKO) PT Raised to $118.00 at Morgan Stanley

TKO Group (NYSE:TKO) had its target price lifted by analysts at Morgan Stanley from $115.00 to $118.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 0.28% from the company’s current price.

Several other analysts have also issued reports on the company. TD Cowen raised TKO Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $92.00 to $127.00 in a report on Wednesday, May 15th. Redburn Atlantic began coverage on shares of TKO Group in a research note on Thursday, July 18th. They set a “buy” rating and a $129.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of TKO Group from $103.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Jefferies Financial Group increased their price target on TKO Group from $120.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Roth Mkm increased their target price on shares of TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TKO Group currently has an average rating of “Moderate Buy” and an average target price of $117.71.

TKO Group Price Performance

Shares of TKO Group stock traded up $0.75 during trading on Friday, reaching $117.67. The company’s stock had a trading volume of 1,288,516 shares, compared to its average volume of 1,144,812. The stock has a 50-day moving average price of $108.24 and a two-hundred day moving average price of $97.50. TKO Group has a one year low of $72.33 and a one year high of $120.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $20.04 billion, a P/E ratio of -116.50 and a beta of 1.04.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.10). The business had revenue of $851.20 million for the quarter, compared to analyst estimates of $771.54 million. TKO Group had a positive return on equity of 4.15% and a negative net margin of 4.14%. The company’s revenue for the quarter was up 178.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. As a group, sell-side analysts anticipate that TKO Group will post 4.03 EPS for the current fiscal year.

Insider Activity at TKO Group

In other news, Director Nick Khan sold 22,693 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.53, for a total value of $2,394,792.29. Following the completion of the sale, the director now directly owns 220,018 shares in the company, valued at $23,218,499.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 53.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its position in shares of TKO Group by 668.2% during the second quarter. Quantbot Technologies LP now owns 31,035 shares of the company’s stock worth $3,351,000 after acquiring an additional 26,995 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in TKO Group by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 448,205 shares of the company’s stock valued at $48,402,000 after purchasing an additional 94,944 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of TKO Group by 267.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company’s stock worth $142,640,000 after purchasing an additional 961,880 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of TKO Group by 13.4% in the second quarter. Envestnet Asset Management Inc. now owns 113,869 shares of the company’s stock valued at $12,297,000 after acquiring an additional 13,486 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of TKO Group by 26.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,832 shares of the company’s stock worth $414,000 after purchasing an additional 799 shares during the last quarter. 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.