TKO Group (NYSE:TKO) Price Target Raised to $220.00

TKO Group (NYSE:TKO) had its target price lifted by JPMorgan Chase & Co. from $218.00 to $220.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TKO Group in a report on Monday, November 24th. UBS Group increased their price objective on shares of TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Arete Research upgraded shares of TKO Group to a “hold” rating in a research report on Wednesday, October 15th. Robert W. Baird boosted their target price on TKO Group from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. Finally, Bank of America upped their price objective on TKO Group from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.85.

TKO Group Stock Up 3.1%

Shares of TKO stock opened at $200.97 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s 50 day simple moving average is $189.29 and its 200 day simple moving average is $181.14. The company has a market capitalization of $39.21 billion, a price-to-earnings ratio of 77.00 and a beta of 0.65. TKO Group has a twelve month low of $133.07 and a twelve month high of $212.49.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, November 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.11). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. TKO Group had a return on equity of 2.57% and a net margin of 5.27%.The business’s revenue was down 27.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. As a group, research analysts predict that TKO Group will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $0.78 dividend. This is an increase from TKO Group’s previous quarterly dividend of $0.76. The ex-dividend date is Monday, December 15th. This represents a $3.12 annualized dividend and a yield of 1.6%. TKO Group’s dividend payout ratio (DPR) is 116.48%.

TKO Group declared that its Board of Directors has authorized a share repurchase program on Monday, September 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other TKO Group news, Director Peter C. B. Bynoe purchased 740 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were acquired at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the purchase, the director owned 5,187 shares in the company, valued at approximately $1,052,961. The trade was a 16.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nick Khan sold 9,519 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $188.26, for a total transaction of $1,792,046.94. Following the completion of the transaction, the director directly owned 118,504 shares in the company, valued at $22,309,563.04. The trade was a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 19,800 shares of company stock valued at $3,815,989. 61.30% of the stock is owned by insiders.

Institutional Investors Weigh In On TKO Group

A number of large investors have recently added to or reduced their stakes in TKO. Vanguard Group Inc. increased its holdings in TKO Group by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock valued at $1,218,951,000 after buying an additional 1,295,817 shares during the period. Invesco Ltd. lifted its position in shares of TKO Group by 569.7% in the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company’s stock worth $217,457,000 after purchasing an additional 1,210,563 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of TKO Group by 242.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock worth $228,675,000 after acquiring an additional 1,059,636 shares in the last quarter. State Street Corp boosted its holdings in shares of TKO Group by 20.3% during the 3rd quarter. State Street Corp now owns 5,249,091 shares of the company’s stock worth $1,060,106,000 after buying an additional 887,401 shares in the last quarter. Finally, Norges Bank acquired a new stake in TKO Group in the second quarter worth $132,441,000. 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.