Short Interest in TKO Group Holdings, Inc. (NYSE:TKO) Rises By 32.6%

TKO Group Holdings, Inc. (NYSE:TKO) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 4,680,000 shares, a growth of 32.6% from the September 15th total of 3,530,000 shares. Currently, 6.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 821,900 shares, the short-interest ratio is presently 5.7 days.

Analysts Set New Price Targets

Several analysts have recently commented on TKO shares. UBS Group increased their target price on TKO Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Guggenheim lifted their price objective on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Bank of America assumed coverage on shares of TKO Group in a research note on Tuesday, August 20th. They set a “buy” rating and a $140.00 target price for the company. Finally, TD Cowen boosted their target price on shares of TKO Group from $127.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, TKO Group currently has a consensus rating of “Moderate Buy” and an average target price of $130.93.

TKO Group Stock Up 0.5 %

TKO traded up $0.63 on Friday, hitting $127.52. The company had a trading volume of 435,878 shares, compared to its average volume of 898,175. TKO Group has a 12-month low of $72.33 and a 12-month high of $128.31. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of -132.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average price of $119.40 and a 200-day moving average price of $108.91.

TKO Group (NYSE:TKO) last announced its earnings results on Thursday, August 8th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.10). TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The business had revenue of $851.20 million for the quarter, compared to analyst estimates of $771.54 million. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 178.9% compared to the same quarter last year. Analysts predict that TKO Group will post 4.17 EPS for the current fiscal year.

Insider Activity

In other TKO Group news, Director Nick Khan sold 22,693 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the completion of the transaction, the director now owns 220,018 shares in the company, valued at $23,218,499.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other TKO Group news, Director Nick Khan sold 22,693 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the sale, the director now directly owns 220,018 shares of the company’s stock, valued at $23,218,499.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the sale, the insider now owns 42,156 shares in the company, valued at $4,837,822.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 53.80% of the company’s stock.

Institutional Investors Weigh In On TKO Group

Several institutional investors have recently added to or reduced their stakes in TKO. Quent Capital LLC boosted its position in TKO Group by 17.4% during the third quarter. Quent Capital LLC now owns 680 shares of the company’s stock worth $84,000 after purchasing an additional 101 shares in the last quarter. Bank of Montreal Can boosted its holdings in TKO Group by 2.8% in the second quarter. Bank of Montreal Can now owns 6,652 shares of the company’s stock valued at $719,000 after purchasing an additional 184 shares during the last quarter. Truist Financial Corp lifted its holdings in TKO Group by 4.9% during the 2nd quarter. Truist Financial Corp now owns 5,278 shares of the company’s stock worth $570,000 after buying an additional 248 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of TKO Group by 10.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,156 shares of the company’s stock worth $341,000 after purchasing an additional 286 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of TKO Group by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 14,710 shares of the company’s stock worth $1,271,000 after purchasing an additional 300 shares during 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.