TKO Group (NYSE:TKO) Given New $235.00 Price Target at UBS Group

TKO Group (NYSE:TKO) had its price objective lifted by UBS Group from $200.00 to $235.00 in a research report report published on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts also recently issued reports on TKO. Seaport Res Ptn downgraded TKO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Citigroup raised their target price on TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Guggenheim raised their target price on TKO Group from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Sanford C. Bernstein started coverage on TKO Group in a research note on Wednesday, June 4th. They set an “outperform” rating and a $190.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on TKO Group from $182.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $196.50.

TKO Group Trading Up 0.5%

Shares of TKO opened at $201.33 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $39.92 billion, a P/E ratio of 83.19 and a beta of 0.79. The stock’s fifty day simple moving average is $180.64 and its 200 day simple moving average is $166.21. TKO Group has a twelve month low of $114.01 and a twelve month high of $212.49.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was up 53.7% on a year-over-year basis. On average, equities research analysts forecast that TKO Group will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a yield of 1.5%. This is a positive change from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s dividend payout ratio (DPR) is presently 125.62%.

TKO Group declared that its board has authorized a share buyback program on Monday, September 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Peter C. B. Bynoe bought 740 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was purchased at an average price of $203.00 per share, with a total value of $150,220.00. Following the transaction, the director directly owned 5,187 shares in the company, valued at approximately $1,052,961. The trade was a 16.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nick Khan sold 45,168 shares of the business’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the transaction, the director directly owned 156,494 shares of the company’s stock, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,725 shares of company stock valued at $12,767,807. Company insiders own 61.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sentry Investment Management LLC bought a new stake in TKO Group in the first quarter valued at about $25,000. Hemington Wealth Management increased its stake in TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the period. Whittier Trust Co. increased its stake in TKO Group by 350.0% in the second quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after acquiring an additional 105 shares during the period. N.E.W. Advisory Services LLC bought a new stake in TKO Group in the first quarter valued at about $26,000. Finally, Golden State Wealth Management LLC boosted its position in TKO Group by 840.0% in the second quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock valued at $26,000 after buying an additional 126 shares in the last quarter. Institutional investors own 89.79% of the company’s stock.

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.