Benchmark Lowers TKO Group (NYSE:TKO) to Hold

TKO Group (NYSE:TKO) was downgraded by research analysts at Benchmark from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Briefing.com reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group upped their target price on TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Redburn Atlantic initiated coverage on shares of TKO Group in a research report on Thursday, July 18th. They set a “buy” rating and a $129.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Roth Mkm raised their target price on shares of TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Guggenheim upped their price target on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, TKO Group currently has an average rating of “Moderate Buy” and an average target price of $132.21.

TKO Group Stock Performance

Shares of TKO Group stock traded down $10.14 during trading hours on Thursday, hitting $115.86. 1,030,769 shares of the company were exchanged, compared to its average volume of 1,037,883. The business has a 50-day moving average of $121.45 and a 200-day moving average of $110.91. TKO Group has a 1 year low of $72.33 and a 1 year high of $130.95. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of -120.99 and a beta of 1.04.

TKO Group (NYSE:TKO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.10). The firm had revenue of $851.20 million for the quarter, compared to analysts’ expectations of $771.54 million. TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The company’s revenue for the quarter was up 178.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. As a group, analysts expect that TKO Group will post 4.17 EPS for the current fiscal year.

Insider Activity at TKO Group

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares of the company’s stock, valued at $4,837,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 53.80% of the company’s stock.

Institutional Trading of TKO Group

Hedge funds have recently made changes to their positions in the stock. XN LP increased its position in TKO Group by 100.9% in the first quarter. XN LP now owns 1,983,346 shares of the company’s stock worth $171,381,000 after buying an additional 996,161 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of TKO Group by 267.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company’s stock worth $142,640,000 after acquiring an additional 961,880 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of TKO Group by 15.9% in the 2nd quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company’s stock worth $439,004,000 after acquiring an additional 557,444 shares during the period. Fairview Capital Investment Management LLC bought a new stake in TKO Group in the 1st quarter valued at about $43,999,000. Finally, Allspring Global Investments Holdings LLC grew its position in TKO Group by 59.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company’s stock worth $119,940,000 after purchasing an additional 362,460 shares during the last quarter. Institutional investors own 89.79% of the company’s stock.

TKO Group Company Profile

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.