TKO Group (NYSE:TKO) Sets New 52-Week High Following Insider Buying Activity

TKO Group Holdings, Inc. (NYSE:TKO) hit a new 52-week high during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $149.98 and last traded at $149.50, with a volume of 117172 shares traded. The stock had previously closed at $142.93.

Specifically, CEO Ariel Emanuel bought 115,952 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $143.85 per share, with a total value of $16,679,695.20. Following the completion of the acquisition, the chief executive officer now owns 1,031,804 shares of the company’s stock, valued at $148,425,005.40. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Patrick Whitesell bought 108,476 shares of the stock in a transaction dated Tuesday, January 21st. The shares were bought at an average cost of $144.13 per share, with a total value of $15,634,645.88. Following the completion of the acquisition, the insider now directly owns 915,852 shares of the company’s stock, valued at approximately $132,001,748.76. The trade was a 13.44 % increase in their position. The disclosure for this purchase can be found here. In other TKO Group news, major shareholder Patrick Whitesell acquired 125,589 shares of TKO Group stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $143.06 per share, for a total transaction of $17,966,762.34. Following the completion of the transaction, the insider now owns 807,376 shares in the company, valued at approximately $115,503,210.56. This represents a 18.42 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TKO. Roth Mkm upped their price target on TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group upped their price target on shares of TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Pivotal Research upped their price target on shares of TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. TD Cowen upped their price objective on shares of TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Citigroup upped their price target on shares of TKO Group from $137.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, TKO Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.29.

TKO Group Price Performance

The company has a market capitalization of $25.94 billion, a P/E ratio of -361.73 and a beta of 1.07. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average is $140.68 and its two-hundred day moving average is $125.46.

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

Institutional Trading of TKO Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its position in shares of TKO Group by 13.4% during the second quarter. Envestnet Asset Management Inc. now owns 113,869 shares of the company’s stock valued at $12,297,000 after buying an additional 13,486 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TKO Group by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 448,205 shares of the company’s stock worth $48,402,000 after purchasing an additional 94,944 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in TKO Group by 32.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 7,263 shares of the company’s stock worth $784,000 after acquiring an additional 1,764 shares during the period. Bank of Montreal Can lifted its stake in TKO Group by 2.8% in the second quarter. Bank of Montreal Can now owns 6,652 shares of the company’s stock worth $719,000 after acquiring an additional 184 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of TKO Group by 5.8% during the second quarter. Squarepoint Ops LLC now owns 235,695 shares of the company’s stock valued at $25,453,000 after buying an additional 12,942 shares during the last quarter. 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.