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Mark Shapiro, President and Chief Operating Officer of TKO Group Holdings, Inc. (NYSE:TKO), has recently sold 31,666 shares of the company's Class A common stock, generating approximately $4.49 million. The shares were sold at an average price of $141.94 each, near the stock's 52-week high of $149.40. This transaction was part of a pre-arranged Rule 10b5-1 plan, established in November 2023, to fulfill tax obligations related to the vesting of previously awarded equity. Following this sale, Shapiro retains direct ownership of 73,677 shares in the company. Additionally, Shapiro acquired 63,187 shares of Class A common stock through the vesting of restricted stock units, without any cash transaction involved. InvestingPro subscribers have access to 13 additional insights about TKO's valuation and growth prospects.
In other recent news, TKO Group Holdings has been under the spotlight with significant financial developments and strategic advances. The company has secured a $2.25 billion loan facility and a $2.75 billion term loan, strengthening its financial position. On the acquisition front, TKO has acquired Professional Bull Riders, On Location, and IMG from Endeavor in an all-equity deal valued at $3.25 billion.
Citi maintained its Buy rating on TKO and increased the stock's price target from $137.00 to $170.00, citing a steady outlook for World Wrestling Entertainment (NYSE:TKO) (WWE) and an updated forecast for the Ultimate Fighting Championship (UFC) rights. However, Benchmark downgraded TKO shares from Buy to Hold due to potential growth dilution concerns. In contrast, BofA Securities maintained a Buy rating and increased TKO's price target to $165.
TKO Group Holdings also settled a consolidated class-action antitrust lawsuit for $375 million. The company's revenue stands at $2.78 billion with an EBITDA of $655.7 million. These are the recent developments for TKO Group Holdings.
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