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

TKO Group (NYSE:TKO)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a report released on Wednesday, Benzinga reports. They currently have a $237.00 price target on the stock. BTIG Research‘s target price points to a potential upside of 33.92% from the stock’s previous close.

TKO has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TKO Group in a report on Tuesday, August 4th. Guggenheim decreased their price objective on shares of TKO Group from $235.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday. Arete Research raised shares of TKO Group from a “neutral” rating to a “buy” rating and set a $208.00 price objective for the company in a report on Tuesday. Morgan Stanley lifted their price objective on shares of TKO Group from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $230.00 price objective on shares of TKO Group in a report on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.62.

TKO Group Stock Performance

TKO Group stock traded down $2.67 during mid-day trading on Wednesday, reaching $176.97. The company’s stock had a trading volume of 105,276 shares, compared to its average volume of 1,221,197. The firm has a market cap of $33.50 billion, a price-to-earnings ratio of 62.10 and a beta of 0.67. The business has a 50 day moving average price of $186.06 and a 200-day moving average price of $190.29. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. TKO Group has a twelve month low of $170.92 and a twelve month high of $226.94.

TKO Group (NYSE:TKO) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.07). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. TKO Group had a return on equity of 2.67% and a net margin of 4.33%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. Sell-side analysts predict that TKO Group will post 4.43 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ariel Emanuel sold 24,702 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $194.39, for a total transaction of $4,801,821.78. Following the completion of the transaction, the chief executive officer owned 174,334 shares of the company’s stock, valued at approximately $33,888,786.26. The trade was a 12.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nick Khan sold 9,589 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $197.17, for a total transaction of $1,890,663.13. Following the transaction, the director directly owned 39,344 shares of the company’s stock, valued at approximately $7,757,456.48. This trade represents a 19.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders 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 modified their holdings of TKO. Bank of America Corp DE lifted its holdings in TKO Group by 22.5% in 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 period. Pacer Advisors Inc. lifted its holdings in TKO Group by 2,440.3% in the first quarter. Pacer Advisors Inc. now owns 135,346 shares of the company’s stock worth $27,293,000 after purchasing an additional 130,018 shares during the period. Hawk Ridge Capital Management LP lifted its holdings in TKO Group by 16.5% in the first quarter. Hawk Ridge Capital Management LP now owns 413,641 shares of the company’s stock worth $83,411,000 after purchasing an additional 58,604 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in TKO Group in the second quarter worth about $9,698,000. Finally, Cat Rock Capital Management LP lifted its holdings in TKO Group by 10.7% in the second quarter. Cat Rock Capital Management LP now owns 339,211 shares of the company’s stock worth $68,287,000 after purchasing an additional 32,700 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

TKO Group Company Profile

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.