TKO Group (NYSE:TKO) Rating Lowered to Neutral at Northcoast Research

TKO Group (NYSE:TKO) was downgraded by equities researchers at Northcoast Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat reports.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of TKO Group from $158.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. The Goldman Sachs Group upped their target price on shares of TKO Group from $170.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Sanford C. Bernstein initiated coverage on shares of TKO Group in a research note on Wednesday, June 4th. They issued an “outperform” rating and a $190.00 target price on the stock. Guggenheim lifted their price objective on TKO Group from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Susquehanna began coverage on TKO Group in a report on Monday, April 28th. They set a “positive” rating and a $180.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TKO Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.08.

TKO Group Trading Down 0.6%

Shares of TKO opened at $171.81 on Thursday. TKO Group has a 12-month low of $102.46 and a 12-month high of $182.60. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $34.00 billion, a price-to-earnings ratio of 87.21 and a beta of 0.73. The stock’s 50-day moving average price is $167.59 and its 200 day moving average price is $157.18.

TKO Group (NYSE:TKO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned ($1.26) EPS. TKO Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts predict that TKO Group will post 3.88 earnings per share for the current year.

Insider Activity at TKO Group

In related news, Director Nick Khan sold 9,519 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $176.96, for a total transaction of $1,684,482.24. Following the transaction, the director owned 201,665 shares in the company, valued at $35,686,638.40. This represents a 4.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was bought at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the purchase, the insider owned 4,158,517 shares of the company’s stock, valued at approximately $658,376,411.44. The trade was a 61.22% increase in their position. The disclosure for this purchase can be found here. Insiders own 61.30% of the company’s stock.

Hedge Funds Weigh In On TKO Group

A number of institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of TKO Group by 18.0% in the fourth quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $80,000 after purchasing an additional 86 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in TKO Group by 559.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 178 shares of the company’s stock valued at $26,000 after buying an additional 151 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in TKO Group by 20.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,118 shares of the company’s stock valued at $159,000 after buying an additional 188 shares during the last quarter. M&T Bank Corp lifted its stake in shares of TKO Group by 2.4% during the fourth quarter. M&T Bank Corp now owns 2,733 shares of the company’s stock valued at $389,000 after acquiring an additional 64 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of TKO Group during the fourth quarter valued at $2,948,000. 89.79% of the stock is owned by institutional investors.

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.