BTIG Research Reaffirms Buy Rating for TKO Group (NYSE:TKO)

TKO Group (NYSE:TKO)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research report issued on Wednesday, Benzinga reports. They presently have a $237.00 price objective on the stock. BTIG Research‘s price objective would suggest a potential upside of 33.03% from the stock’s current price.

Several other research firms also recently commented on TKO. JPMorgan Chase & Co. reduced their price target on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Morgan Stanley raised their price target on shares of TKO Group from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Susquehanna reduced their price target on shares of TKO Group from $235.00 to $224.00 and set a “positive” rating on the stock in a research note on Friday, October 16th. Benchmark restated a “hold” rating on shares of TKO Group in a report on Tuesday, August 4th. Finally, Roth Capital restated a “buy” rating and issued a $230.00 price objective on shares of TKO Group in a report on Tuesday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $232.62.

TKO Group Trading Down 0.8%

TKO stock opened at $178.16 on Wednesday. The company has a market capitalization of $33.72 billion, a PE ratio of 62.55 and a beta of 0.67. TKO Group has a 12 month low of $170.92 and a 12 month high of $226.94. The firm’s 50-day moving average is $186.06 and its 200 day moving average is $190.29. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.28 and a quick ratio of 1.28.

TKO Group (NYSE:TKO) last posted its quarterly earnings results on Monday, August 3rd. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.07). The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. TKO Group had a return on equity of 2.67% and a net margin of 4.33%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 EPS. On average, research analysts anticipate that TKO Group will post 4.43 EPS for the current year.

Insider Activity at TKO Group

In related news, CEO Ariel Emanuel sold 24,702 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $194.39, for a total value of $4,801,821.78. Following the sale, the chief executive officer owned 174,334 shares in the company, valued at $33,888,786.26. This represents a 12.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Shapiro sold 19,120 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $194.39, for a total value of $3,716,736.80. Following the completion of the sale, the insider owned 147,071 shares in the company, valued at approximately $28,589,131.69. This represents a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 97,325 shares of company stock worth $18,798,012. 64.30% of the stock is owned by insiders.

Hedge Funds Weigh In On TKO Group

Several hedge funds and other institutional investors have recently made changes to their positions in TKO. Bank of America Corp DE lifted its stake in TKO Group by 22.5% during the first quarter. Bank of America Corp DE now owns 1,393,727 shares of the company’s stock worth $281,045,000 after purchasing an additional 256,305 shares during the last quarter. Annex Advisory Services LLC lifted its stake in TKO Group by 1.3% during the second quarter. Annex Advisory Services LLC now owns 418,586 shares of the company’s stock worth $84,266,000 after purchasing an additional 5,483 shares during the last quarter. Hawk Ridge Capital Management LP increased its position in TKO Group by 16.5% during the first quarter. Hawk Ridge Capital Management LP now owns 413,641 shares of the company’s stock worth $83,411,000 after buying an additional 58,604 shares during the period. Cat Rock Capital Management LP increased its position in TKO Group by 10.7% during the second quarter. Cat Rock Capital Management LP now owns 339,211 shares of the company’s stock worth $68,287,000 after buying an additional 32,700 shares during the period. Finally, Braun Stacey Associates Inc. increased its position in TKO Group by 7.7% during the second quarter. Braun Stacey Associates Inc. now owns 138,509 shares of the company’s stock worth $27,883,000 after buying an additional 9,924 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

About TKO Group

TKO Group Holdings, Inc is a sports and entertainment company that owns and operates UFC and WWE, two global combat-sports and sports-entertainment brands. UFC promotes mixed martial arts events, while WWE produces live and televised professional wrestling programming featuring its roster of performers, storylines and branded events.

In addition to its core properties, TKO provides related media, licensing, sponsorship, live-event and consumer-products opportunities. The company’s businesses serve audiences internationally through live events, broadcast and streaming distribution, digital content, merchandise and other commercial partnerships.

TKO was formed in 2023 through the combination of UFC and WWE under Endeavor Group Holdings.