TKO Group (NYSE:TKO – Free Report) had its price target reduced by JPMorgan Chase & Co. from $225.00 to $222.00 in a report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Several other research firms have also issued reports on TKO. BTIG Research reissued a “buy” rating and issued a $237.00 price target on shares of TKO Group in a research report on Thursday, May 7th. Roth Capital set a $228.00 price objective on TKO Group in a report on Monday, May 4th. Citizens Jmp initiated coverage on TKO Group in a research note on Monday, March 30th. They issued a “mkt outperform” rating and a $240.00 price objective on the stock. Weiss Ratings raised TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Finally, Citigroup downgraded TKO Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.87.
Check Out Our Latest Stock Report on TKO Group
TKO Group Stock Performance
TKO Group (NYSE:TKO – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The business’s revenue was up 25.9% compared to the same quarter last year. Sell-side analysts expect that TKO Group will post 4.94 EPS for the current year.
TKO Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.79 per share. This is a positive change from TKO Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 15th. TKO Group’s payout ratio is currently 117.91%.
Insider Activity
In other news, CFO Andrew M. Schleimer acquired 2,696 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $185.44 per share, with a total value of $499,946.24. Following the completion of the acquisition, the chief financial officer owned 30,240 shares in the company, valued at approximately $5,607,705.60. This represents a 9.79% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ariel Emanuel bought 10,805 shares of TKO Group stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $185.09 per share, for a total transaction of $1,999,897.45. Following the completion of the acquisition, the chief executive officer directly owned 154,655 shares in the company, valued at $28,625,093.95. This represents a 7.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 24,308 shares of company stock valued at $4,499,679 and sold 28,696 shares valued at $5,511,785. 64.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On TKO Group
Institutional investors and hedge funds have recently bought and sold shares of the business. Elyxium Wealth LLC acquired a new stake in shares of TKO Group in the fourth quarter valued at $27,000. Cornerstone Planning Group LLC lifted its position in TKO Group by 543.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 148 shares of the company’s stock worth $28,000 after buying an additional 125 shares in the last quarter. Torren Management LLC acquired a new position in TKO Group during the 4th quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new position in TKO Group during the 2nd quarter worth about $34,000. Finally, Aventura Private Wealth LLC bought a new stake in TKO Group during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 89.79% of the company’s stock.
About TKO Group
TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.
TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.
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