TKO Group (NYSE:TKO) Sets New 1-Year High After Insider Buying Activity

TKO Group Holdings, Inc. (NYSE:TKO)’s share price reached a new 52-week high on Monday following insider buying activity. The company traded as high as $145.98 and last traded at $145.85, with a volume of 344807 shares traded. The stock had previously closed at $141.92.

Specifically, CEO Ariel Emanuel acquired 60,208 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the acquisition, the chief executive officer now owns 1,734,530 shares in the company, valued at $249,303,996.90. This trade represents a 3.60 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Patrick Whitesell acquired 245,887 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $142.45 per share, with a total value of $35,026,603.15. Following the acquisition, the insider now owns 1,825,030 shares of the company’s stock, valued at $259,975,523.50. This represents a 15.57 % increase in their position. The disclosure for this purchase can be found here. In related news, major shareholder Patrick Whitesell bought 31,352 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $142.03 per share, with a total value of $4,452,924.56. Following the completion of the purchase, the insider now owns 1,674,322 shares in the company, valued at approximately $237,803,953.66. The trade was a 1.91 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TKO shares. The Goldman Sachs Group increased their target price on TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Roth Mkm increased their target price on TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Pivotal Research increased their target price on TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, TD Cowen increased their price objective on TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.93.

TKO Group Price Performance

The firm has a market capitalization of $25.11 billion, a PE ratio of -350.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a 50-day simple moving average of $128.66 and a 200-day simple moving average of $118.69.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.28). The firm had revenue of $681.20 million during the quarter, compared to analysts’ expectations of $665.12 million. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company’s revenue for the quarter was up 51.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, equities analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Petrus Trust Company LTA purchased a new position in TKO Group in the third quarter worth about $597,000. HighTower Advisors LLC raised its stake in shares of TKO Group by 177.2% in the third quarter. HighTower Advisors LLC now owns 26,197 shares of the company’s stock worth $3,225,000 after buying an additional 16,746 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of TKO Group by 29.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock worth $210,892,000 after buying an additional 383,869 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of TKO Group by 499.8% in the third quarter. Central Pacific Bank Trust Division now owns 5,998 shares of the company’s stock worth $742,000 after buying an additional 4,998 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of TKO Group by 14.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 452,753 shares of the company’s stock worth $56,010,000 after buying an additional 56,312 shares during the period. 89.79% of the stock is owned by hedge funds and other 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.