TKO Group (NYSE:TKO) Upgraded by Baird R W to Strong-Buy Rating

Key Points

• Analysts at Baird R W have upgraded TKO Group (NYSE:TKO) to a "strong-buy" rating, reflecting positive sentiment in the stock's future performance.
• Several other analysts, including Roth Capital and Bank of America, have also increased their price targets for TKO Group, with the average target now at $192.21.
• Despite a recent earnings miss, the company's quarterly revenue showed a significant year-over-year increase of 53.7%, rising to $1.31 billion.

TKO Group (NYSE:TKO - Get Free Report) was upgraded by research analysts at Baird R W to a "strong-buy" rating in a report released on Friday,Zacks.com reports.

Several other brokerages also recently commented on TKO. Roth Capital lifted their target price on shares of TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Bank of America raised their target price on shares of TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Robert W. Baird initiated coverage on shares of TKO Group in a research report on Friday. They set an "outperform" rating and a $225.00 price target on the stock. Morgan Stanley reiterated an "outperform" rating on shares of TKO Group in a research report on Sunday, August 10th. Finally, Guggenheim boosted their price target on shares of TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, TKO Group presently has an average rating of "Moderate Buy" and a consensus target price of $192.21.

TKO Group Trading Up 3.4%

Shares of NYSE TKO traded up $6.52 during mid-day trading on Friday, hitting $200.52. The stock had a trading volume of 1,097,540 shares, compared to its average volume of 830,703. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. TKO Group has a 1 year low of $113.16 and a 1 year high of $200.71. The business has a 50 day moving average price of $177.14 and a two-hundred day moving average price of $164.17. The firm has a market cap of $39.76 billion, a P/E ratio of 82.86 and a beta of 0.79.

TKO Group (NYSE:TKO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm's quarterly revenue was up 53.7% compared to the same quarter last year. On average, equities analysts anticipate that TKO Group will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling at TKO Group

In other news, Director Nick Khan sold 9,519 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total value of $1,774,627.17. Following the sale, the director directly owned 137,456 shares of the company's stock, valued at $25,625,922.08. This represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 73,725 shares of company stock valued at $12,767,807. 61.30% of the stock is owned by corporate insiders.

Institutional Trading of TKO Group

A number of hedge funds and other institutional investors have recently modified their holdings of TKO. Vanguard Group Inc. grew its position in shares of TKO Group by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock worth $1,218,951,000 after buying an additional 1,295,817 shares during the period. Invesco Ltd. grew its position in TKO Group by 569.7% during the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company's stock valued at $217,457,000 after purchasing an additional 1,210,563 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in TKO Group by 242.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock valued at $228,675,000 after purchasing an additional 1,059,636 shares during the last quarter. Norges Bank purchased a new stake in TKO Group during the 2nd quarter valued at about $132,441,000. Finally, Ninety One UK Ltd grew its position in TKO Group by 14.4% during the 2nd quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company's stock valued at $882,459,000 after purchasing an additional 611,233 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

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.