TKO Group (NYSE:TKO – Free Report) had its price target hoisted by Guggenheim from $230.00 to $235.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other brokerages also recently commented on TKO. JPMorgan Chase & Co. lowered their target price on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Morgan Stanley raised their price target on TKO Group from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday. BTIG Research restated a “buy” rating and set a $237.00 price target on shares of TKO Group in a research note on Tuesday. Citigroup downgraded TKO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Roth Capital restated a “buy” rating and set a $230.00 price objective on shares of TKO Group in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and an average target price of $235.33.
View Our Latest Research Report on TKO Group
TKO Group Price Performance
TKO Group (NYSE:TKO – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.07). The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. TKO Group had a net margin of 4.33% and a return on equity of 2.67%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. Equities research analysts anticipate that TKO Group will post 5.18 earnings per share for the current fiscal year.
TKO Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.7%. This is a positive change from TKO Group’s previous quarterly dividend of $0.78. The ex-dividend date was Monday, June 15th. TKO Group’s payout ratio is presently 110.88%.
Insiders Place Their Bets
In other TKO Group news, Director Nick Khan sold 12,998 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $181.11, for a total transaction of $2,354,067.78. Following the completion of the sale, the director owned 48,933 shares in the company, valued at $8,862,255.63. The trade was a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew M. Schleimer acquired 2,696 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $185.44 per share, with a total value of $499,946.24. Following the transaction, the chief financial officer owned 30,240 shares in the company, valued at approximately $5,607,705.60. The trade was a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have purchased 24,308 shares of company stock valued at $4,499,679 and have sold 42,257 shares valued at $7,946,068. 64.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TKO. CreativeOne Wealth LLC boosted its holdings in TKO Group by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,586 shares of the company’s stock valued at $541,000 after acquiring an additional 54 shares during the last quarter. Sunbelt Securities Inc. raised its stake in TKO Group by 6.3% during the third quarter. Sunbelt Securities Inc. now owns 950 shares of the company’s stock worth $192,000 after buying an additional 56 shares during the last quarter. Stephens Inc. AR lifted its holdings in TKO Group by 2.7% in the fourth quarter. Stephens Inc. AR now owns 2,160 shares of the company’s stock valued at $451,000 after buying an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of TKO Group by 29.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 249 shares of the company’s stock valued at $52,000 after purchasing an additional 57 shares during the period. Finally, Colonial River Investments LLC boosted its position in shares of TKO Group by 4.5% during the 4th quarter. Colonial River Investments LLC now owns 1,414 shares of the company’s stock valued at $296,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.
TKO Group Company Profile
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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