The Goldman Sachs Group Forecasts Strong Price Appreciation for TKO Group (NYSE:TKO) Stock

TKO Group (NYSE:TKO) had its price target lifted by The Goldman Sachs Group from $142.00 to $165.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on TKO. Roth Mkm raised their target price on shares of TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen upped their target price on TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Pivotal Research boosted their price objective on shares of TKO Group from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Benchmark lowered TKO Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, TKO Group has a consensus rating of “Moderate Buy” and an average price target of $141.21.

TKO Group Stock Performance

TKO stock opened at $153.06 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The company’s 50-day moving average price is $141.35 and its 200 day moving average price is $125.74. TKO Group has a 52 week low of $78.69 and a 52 week high of $154.25.

TKO Group (NYSE:TKO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). The business had revenue of $681.20 million for the quarter, compared to analysts’ expectations of $665.12 million. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company’s revenue for the quarter was up 51.7% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. On average, equities analysts expect that TKO Group will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling

In other TKO Group news, major shareholder Patrick Whitesell purchased 31,352 shares of the stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $142.03 per share, for a total transaction of $4,452,924.56. Following the completion of the acquisition, the insider now owns 1,674,322 shares of the company’s stock, valued at $237,803,953.66. This represents a 1.91 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark S. Shapiro sold 31,666 shares of TKO Group stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $141.94, for a total value of $4,494,672.04. Following the transaction, the insider now directly owns 73,677 shares in the company, valued at approximately $10,457,713.38. This trade represents a 30.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 950,664 shares of company stock valued at $137,096,831 and have sold 71,457 shares valued at $10,153,456. 53.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TKO Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in TKO Group by 28.2% during the fourth quarter. Blue Trust Inc. now owns 332 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares in the last quarter. Coldstream Capital Management Inc. increased its position in TKO Group by 3.3% during the third quarter. Coldstream Capital Management Inc. now owns 3,070 shares of the company’s stock worth $379,000 after acquiring an additional 97 shares during the period. Quent Capital LLC increased its holdings in shares of TKO Group by 17.4% during the 3rd quarter. Quent Capital LLC now owns 680 shares of the company’s stock worth $84,000 after purchasing an additional 101 shares during the period. Signaturefd LLC grew its holdings in shares of TKO Group by 39.4% during the 3rd quarter. Signaturefd LLC now owns 386 shares of the company’s stock worth $48,000 after purchasing an additional 109 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of TKO Group by 72.8% during the fourth quarter. UMB Bank n.a. now owns 273 shares of the company’s stock valued at $39,000 after purchasing an additional 115 shares during the period. 89.79% of the stock is owned by hedge funds and other institutional investors.

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.