Benchmark Downgrades TKO Group (NYSE:TKO) to Hold

TKO Group (NYSE:TKO) was downgraded by equities researchers at Benchmark from a “buy” rating to a “hold” rating in a report released on Thursday, MarketBeat Ratings reports.

A number of other research firms also recently weighed in on TKO. Roth Mkm boosted their target price on 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 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. The Goldman Sachs Group raised their target price on shares of TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Pivotal Research started coverage on shares of TKO Group in a research note on Friday, September 13th. They set a “buy” rating and a $170.00 price target for the company. Finally, Morgan Stanley increased their price objective on shares of TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Three research 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, the company presently has an average rating of “Moderate Buy” and an average target price of $132.21.

TKO Group Stock Up 0.1 %

Shares of NYSE:TKO opened at $115.13 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. The firm has a market cap of $19.65 billion, a P/E ratio of -119.93 and a beta of 1.04. TKO Group has a 12 month low of $72.33 and a 12 month high of $130.95. The company’s 50-day moving average price is $121.38 and its two-hundred day moving average price is $111.07.

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

Insider Buying and Selling at TKO Group

In other news, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares in the company, valued at $4,837,822.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 53.80% of the company’s stock.

Institutional Trading of TKO Group

Several hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System boosted its holdings in shares of TKO Group by 0.6% in the third quarter. New York State Teachers Retirement System now owns 46,595 shares of the company’s stock valued at $5,764,000 after buying an additional 300 shares during the period. Nisa Investment Advisors LLC boosted its stake in TKO Group by 11.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,684 shares of the company’s stock worth $703,000 after purchasing an additional 570 shares during the period. State of Alaska Department of Revenue increased its holdings in TKO Group by 19.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,711 shares of the company’s stock worth $953,000 after purchasing an additional 1,230 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of TKO Group by 1,002.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,570 shares of the company’s stock valued at $1,571,000 after purchasing an additional 11,430 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of TKO Group by 10.2% in the third quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the company’s stock valued at $2,276,000 after purchasing an additional 1,700 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

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.