TD Cowen Issues Positive Forecast for TKO Group (NYSE:TKO) Stock Price

TKO Group (NYSE:TKO) had its price objective upped by TD Cowen from $230.00 to $245.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 19.97% from the stock’s previous close.

A number of other research analysts have also weighed in on TKO. Citigroup increased their price objective on TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, August 15th. Pivotal Research raised their target price on TKO Group from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of TKO Group in a research report on Monday, December 1st. JPMorgan Chase & Co. upped their price target on shares of TKO Group from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Sanford C. Bernstein lifted their price objective on TKO Group from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.43.

TKO Group Stock Performance

NYSE TKO traded up $2.01 on Monday, hitting $204.23. 275,047 shares of the company traded hands, compared to its average volume of 1,255,809. TKO Group has a 52-week low of $133.07 and a 52-week high of $212.49. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $39.84 billion, a price-to-earnings ratio of 78.40 and a beta of 0.65. The business’s 50 day moving average price is $189.36 and its 200-day moving average price is $181.68.

TKO Group (NYSE:TKO) last posted its earnings results on Wednesday, November 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.11). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.12 billion. TKO Group had a return on equity of 2.57% and a net margin of 5.27%.TKO Group’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Equities analysts expect that TKO Group will post 3.88 earnings per share for the current year.

TKO Group declared that its Board of Directors has approved a stock repurchase program on Monday, September 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Shane Kapral sold 254 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $192.82, for a total transaction of $48,976.28. Following the transaction, the chief financial officer owned 1,774 shares of the company’s stock, valued at approximately $342,062.68. This represents a 12.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. B. Bynoe acquired 740 shares of the stock in a transaction dated Tuesday, September 16th. The stock was acquired at an average cost of $203.00 per share, with a total value of $150,220.00. Following the purchase, the director owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. This trade represents a 16.64% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 29,319 shares of company stock worth $5,673,717 over the last ninety days. Corporate insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. increased its holdings in shares of TKO Group by 350.0% in the second quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of TKO Group by 840.0% in the second quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock valued at $26,000 after buying an additional 126 shares in the last quarter. Cromwell Holdings LLC lifted its holdings in TKO Group by 1,360.0% in the third quarter. Cromwell Holdings LLC now owns 146 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Atlantic Union Bankshares Corp increased its holdings in shares of TKO Group by 1,680.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 178 shares of the company’s stock valued at $36,000 after purchasing an additional 168 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of TKO Group during the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds 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.