TKO Group (NYSE:TKO) Shares Gap Down to $109.74

TKO Group Holdings, Inc. (NYSE:TKO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $109.74, but opened at $106.00. TKO Group shares last traded at $106.69, with a volume of 70,911 shares.

Analysts Set New Price Targets

TKO has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of TKO Group from $100.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Jefferies Financial Group increased their target price on shares of TKO Group from $120.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Roth Mkm increased their price objective on shares of TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. TD Cowen raised shares of TKO Group from a “hold” rating to a “buy” rating and raised their target price for the company from $92.00 to $127.00 in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of TKO Group from $103.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and an average target price of $116.64.

TKO Group Stock Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50-day simple moving average is $107.87 and its 200 day simple moving average is $96.22. The stock has a market capitalization of $18.36 billion, a P/E ratio of -106.72 and a beta of 1.04.

TKO Group (NYSE:TKO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $1.63. TKO Group had a negative net margin of 4.14% and a positive return on equity of 4.15%. The firm had revenue of $629.70 million during the quarter, compared to analysts’ expectations of $609.28 million. Research analysts expect that TKO Group Holdings, Inc. will post 4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nick Khan sold 22,693 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.53, for a total value of $2,394,792.29. Following the completion of the sale, the director now owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 53.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. American International Group Inc. raised its stake in TKO Group by 10.1% during the fourth quarter. American International Group Inc. now owns 81,579 shares of the company’s stock worth $6,655,000 after acquiring an additional 7,456 shares in the last quarter. First Trust Bank Ltd. bought a new stake in shares of TKO Group during the fourth quarter worth about $3,034,000. Charles Schwab Investment Management Inc. grew its holdings in shares of TKO Group by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,442 shares of the company’s stock worth $29,894,000 after purchasing an additional 55,662 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TKO Group by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 5,995,356 shares of the company’s stock worth $489,101,000 after purchasing an additional 1,002,121 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of TKO Group during the fourth quarter worth about $5,111,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

About TKO Group

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.