Bank of America Issues Positive Forecast for TKO Group (NYSE:TKO) Stock Price

Key Points

• Bank of America has raised its price target for TKO Group's stock from $200.00 to $210.00, indicating a potential upside of 16.62% from the current price and maintaining a "buy" rating.
• Analysts from JPMorgan Chase and other firms have also set higher price targets for TKO Group, with the average target price now at $179.67 and a consensus rating of "Moderate Buy."
• Despite reporting earnings of $1.17 EPS, which was below expectations, TKO Group experienced a year-over-year revenue increase of 53.7%, reaching $1.31 billion.

TKO Group (NYSE:TKO - Get Free Report) had its price objective increased by equities research analysts at Bank of America from $200.00 to $210.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 16.62% from the stock's current price.

A number of other research firms also recently commented on TKO. JPMorgan Chase & Co. lifted their price objective on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Susquehanna initiated coverage on shares of TKO Group in a report on Monday, April 28th. They issued a "positive" rating and a $180.00 price target for the company. Morgan Stanley reiterated an "outperform" rating on shares of TKO Group in a research note on Sunday. Guggenheim raised their target price on shares of TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Sanford C. Bernstein started coverage on TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price for the company. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $179.67.

TKO Group Stock Performance

Shares of TKO stock opened at $180.08 on Tuesday. The stock has a market capitalization of $35.64 billion, a price-to-earnings ratio of 74.41 and a beta of 0.72. TKO Group has a one year low of $113.16 and a one year high of $182.60. The company's 50-day simple moving average is $170.16 and its 200-day simple moving average is $160.94. 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 (NYSE:TKO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%. The company's quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Equities analysts anticipate that TKO Group will post 3.88 earnings per share for the current fiscal year.

Insider Transactions at TKO Group

In related news, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, with a total value of $166,198.20. Following the purchase, the director owned 2,747 shares in the company, valued at approximately $465,863.73. This represents a 55.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the transaction, the insider directly owned 4,158,517 shares in the company, valued at $658,376,411.44. This represents a 61.22% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 73,725 shares of company stock valued at $12,501,561. 53.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC increased its position in shares of TKO Group by 3.6% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 1,835 shares of the company's stock valued at $261,000 after purchasing an additional 63 shares during the period. Howe & Rusling Inc. grew its holdings in TKO Group by 4.7% during the second quarter. Howe & Rusling Inc. now owns 1,603 shares of the company's stock worth $292,000 after acquiring an additional 72 shares during the period. Retirement Systems of Alabama raised its position in TKO Group by 0.5% in the second quarter. Retirement Systems of Alabama now owns 14,385 shares of the company's stock worth $2,617,000 after acquiring an additional 77 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in TKO Group by 1.1% in the 1st quarter. Simon Quick Advisors LLC now owns 7,558 shares of the company's stock valued at $1,155,000 after acquiring an additional 82 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of TKO Group by 5.8% during the 2nd quarter. Metis Global Partners LLC now owns 1,584 shares of the company's stock valued at $288,000 after purchasing an additional 87 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, 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.

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