TKO Group (NYSE:TKO) Shares Gap Down – Time to Sell?

TKO Group Holdings, Inc. (NYSE:TKO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $126.00, but opened at $119.00. TKO Group shares last traded at $118.71, with a volume of 225,042 shares trading hands.

Analyst Ratings Changes

TKO has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price objective on shares of TKO Group from $127.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their target price on shares of TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Benchmark downgraded shares of TKO Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Pivotal Research began coverage on shares of TKO Group in a report on Friday, September 13th. They set a “buy” rating and a $170.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.21.

TKO Group Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $19.65 billion, a P/E ratio of -119.93 and a beta of 1.04. The firm has a 50 day simple moving average of $121.38 and a two-hundred day simple moving average of $111.07.

TKO Group (NYSE:TKO) last announced its 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). TKO Group had a negative net margin of 3.14% and a positive return on equity of 3.10%. The firm had revenue of $851.20 million during the quarter, compared to analysts’ expectations of $771.54 million. During the same quarter in the prior year, the company earned $0.91 EPS. The business’s revenue for the quarter was up 178.9% on a year-over-year basis. Equities research analysts forecast that TKO Group Holdings, Inc. will post 4.17 earnings per share for the current year.

Insider Transactions at TKO Group

In related news, insider Mark S. Shapiro sold 31,026 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Park Avenue Securities LLC raised its stake in shares of TKO Group by 11.0% during the 1st quarter. Park Avenue Securities LLC now owns 7,660 shares of the company’s stock worth $662,000 after purchasing an additional 760 shares during the period. Sunbelt Securities Inc. raised its position in TKO Group by 1,384.4% in the first quarter. Sunbelt Securities Inc. now owns 1,143 shares of the company’s stock worth $99,000 after acquiring an additional 1,066 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of TKO Group by 51.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 799,921 shares of the company’s stock worth $69,121,000 after purchasing an additional 272,134 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of TKO Group by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 14,710 shares of the company’s stock worth $1,271,000 after purchasing an additional 300 shares during the period. Finally, Van ECK Associates Corp lifted its stake in TKO Group by 36.5% in the first quarter. Van ECK Associates Corp now owns 21,234 shares of the company’s stock valued at $1,835,000 after purchasing an additional 5,679 shares during the last quarter. Hedge funds and other institutional investors 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.