The Goldman Sachs Group Forecasts Strong Price Appreciation for TKO Group (NYSE:TKO) Stock

TKO Group (NYSE:TKO) had its target price boosted by equities researchers at The Goldman Sachs Group from $142.00 to $165.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 7.80% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on TKO. Guggenheim increased their price target on TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Roth Mkm increased their target price on TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Citigroup boosted their price target on TKO Group from $137.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. TD Cowen increased their price objective on shares of TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $141.21.

TKO Group Stock Up 0.7 %

TKO opened at $153.06 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day moving average of $141.35 and a 200-day moving average of $125.85. TKO Group has a fifty-two week low of $78.69 and a fifty-two week high of $154.25. The company has a market capitalization of $26.14 billion, a P/E ratio of -364.44 and a beta of 1.07.

TKO Group (NYSE:TKO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.28). TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The business had revenue of $681.20 million during the quarter, compared to analyst estimates of $665.12 million. During the same quarter last year, the firm earned $0.52 EPS. TKO Group’s revenue for the quarter was up 51.7% compared to the same quarter last year. On average, equities analysts expect that TKO Group will post 3.88 EPS for the current year.

Insider Activity

In other news, major shareholder Patrick Whitesell acquired 31,352 shares of the stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $142.03 per share, with a total value of $4,452,924.56. Following the completion of the purchase, the insider now directly owns 1,674,322 shares of the company’s stock, valued at $237,803,953.66. This represents a 1.91 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Seth D. Krauss sold 2,438 shares of TKO Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $143.80, for a total transaction of $350,584.40. Following the sale, the insider now owns 7,983 shares in the company, valued at approximately $1,147,955.40. This represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 950,664 shares of company stock worth $137,096,831 and sold 71,457 shares worth $10,153,456. 53.80% of the stock is owned by corporate insiders.

Institutional Trading of TKO Group

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in TKO Group by 52.4% during the 3rd quarter. Blue Trust Inc. now owns 259 shares of the company’s stock worth $32,000 after buying an additional 89 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of TKO Group during the fourth quarter worth about $32,000. First Horizon Advisors Inc. lifted its stake in shares of TKO Group by 491.5% in the third quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock worth $34,000 after acquiring an additional 231 shares during the period. UMB Bank n.a. boosted its holdings in TKO Group by 72.8% in the fourth quarter. UMB Bank n.a. now owns 273 shares of the company’s stock valued at $39,000 after acquiring an additional 115 shares during the last quarter. Finally, Signaturefd LLC increased its position in TKO Group by 39.4% during the 3rd quarter. Signaturefd LLC now owns 386 shares of the company’s stock valued at $48,000 after purchasing an additional 109 shares during the period. 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.