TKO Group (NYSE:TKO) Given New $220.00 Price Target at JPMorgan Chase & Co.

TKO Group (NYSE:TKO) had its target price lifted by JPMorgan Chase & Co. from $218.00 to $220.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. UBS Group raised their target price on TKO Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Citigroup increased their price objective on TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Morgan Stanley raised their price objective on TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Zacks Research downgraded shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Robert W. Baird increased their price target on shares of TKO Group from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.85.

TKO Group Stock Up 0.3%

TKO stock opened at $194.62 on Tuesday. The company’s 50 day moving average is $189.21 and its 200 day moving average is $180.90. TKO Group has a 1-year low of $133.07 and a 1-year high of $212.49. 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 stock has a market cap of $37.97 billion, a price-to-earnings ratio of 80.42 and a beta of 0.65.

TKO Group (NYSE:TKO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.11). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Sell-side analysts predict that TKO Group will post 3.88 EPS for the current fiscal year.

TKO Group announced that its board has authorized a share repurchase plan on Monday, September 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Nick Khan sold 9,519 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $188.26, for a total value of $1,792,046.94. Following the completion of the transaction, the director directly owned 118,504 shares in the company, valued at $22,309,563.04. The trade was a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. B. Bynoe acquired 740 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was acquired at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the transaction, the director directly owned 5,187 shares in the company, valued at $1,052,961. This represents a 16.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 19,546 shares of company stock valued at $3,767,013. Insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TKO. Hemington Wealth Management lifted its holdings in shares of TKO Group by 425.0% during the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares in the last quarter. Whittier Trust Co. raised its position in TKO Group by 350.0% in the 2nd quarter. Whittier Trust Co. now owns 135 shares of the company’s stock worth $25,000 after buying an additional 105 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in TKO Group by 840.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock valued at $26,000 after acquiring an additional 126 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of TKO Group by 1,360.0% during the 3rd quarter. Cromwell Holdings LLC now owns 146 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of TKO Group during the 2nd quarter valued at about $34,000. Hedge funds and other 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.