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Optimistic Buy Rating for TKO Group Holdings Amid Strategic Share Transactions and Buybacks
Analyst Jason Bazinet of Citi maintained a Buy rating on TKO Group Holdings ( TKO – Research Report ), retaining the price target of $130.00.
Jason Bazinet’s rating is based on a thorough analysis of recent strategic transactions involving TKO Group Holdings. The report indicates that Vince McMahon’s decision to sell a significant portion of his shares at a substantial valuation reflects positively on the stock’s potential. McMahon struck deals to offload approximately 3.5 million TKO shares, with notable parties like an Endeavor Group Holdings subsidiary, and TKO itself, purchasing these shares at around $89 each. The transactions suggest an implicit endorsement of the company’s value and future prospects, as the stock is being bought at a premium by knowledgeable insiders and the company alike.
Furthermore, the repurchase of shares by TKO Group Holdings is a strategic move that is likely to benefit shareholders. The company’s plan to finance this buyback with borrowings under its credit facility and to retire the acquired shares will reduce the number of shares outstanding, potentially increasing earnings per share and shareholder value. This series of transactions not only consolidates ownership but also signals strong confidence in the company’s financial health and growth trajectory. Given these factors, Bazinet’s Buy rating reflects an optimistic outlook on TKO’s stock, with an anticipated substantial return on the share price.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $120.00 price target.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TKO in relation to earlier this year.
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TKO Group Holdings (TKO) Company Description:
World Wrestling Entertainment, Inc. engages in the development, production and marketing of television and pay-per-view event programming and live events and the licensing and sale of consumer products featuring its brands. It operates through the following business segments: Digital Media, Live Events, Consumer Products Division, WWE Studios, and Corporate & Other. The Digital Media segment revenues consist principally of subscriptions to WWE Network, fees for viewing its pay-per-view and video-on-demand programming, and advertising fees. The Live Events segment revenues consist principally of ticket sales and travel packages for live events. The Consumer Products segment revenues consist principally of royalties or license fees related to various WWE themed products such as video games, toys and apparel. The WWE Studios segment revenues consist of amounts earned from the investing in producing and/or distributing of filmed entertainment. The Corporate & Other segment revenues consist of amounts earned from the investing in producing and/or distributing of filmed entertainment. The company was founded by Vincent K. McMahon in 1980 and is headquartered in Stamford, CT.
Read More on TKO:
- TKO Group (NYSE:TKO) Rallies as Vince McMahon Offloads Shares
- M&A News: Silver Lake Takes Endeavor Private in $13B Deal
- TKO Group rallies 4% to $89.43 after Endeavor buyout by Silver Lake
- Silver Lake acquires Endeavor Group for $27.50 per share or $13B
- Smith & Nephew partners with UFC as sports medicine technology provider
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The 20-year-old passenger who jumped off a Royal Caribbean cruise last week after an argument with his dad has been identified as a former high school football player and avid hunter living in Florida.
Levion Parker, of North Port, Florida, has been missing since he jumped overboard April 4 in front of his brother and father on the cruise to Cuba and the Bahamas’ Grand Inagua Island, the Broward County Sheriff’s Office said Wednesday.
The release of his identity comes shortly after the Coast Guard called off its search for Parker.
Social media posts show Parker often went on hunting and fishing trips. He also played football for North Port High School before he graduated in 2022, according to the Daily Mail .
Parker jumped off the 18-story Liberty of the Seas after reportedly getting into an argument with his father.
Parker’s father was “fussing at him for being drunk,” fellow passenger Bryan Sims told The Post .
“When we got to them, he said to his dad, ‘I’ll fix this right now.’ And he jumped out the window in front of us all,” Sims said.
“He was pretty drunk,” Sims added.
Sims hung out with Parker and his brother, Seth, 18, in the hot tub in the early hours of April before going their separate ways around 4 a.m.
After Sims had used the restroom and dried off, he headed toward the elevators.
On his way there, he noticed the two brothers and their dad, Francel Parker, coming out of the sliding doors near the elevators.
“As we were walking from the hot tub back to the elevators, his dad and brother were walking towards us. His dad was fussing at him for being drunk, I guess,” Sims said of the moment before Parker jumped.
Royal Caribbean said it “immediately” launched search boats to look for him with help from the US Coast Guard.
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Parker’s father owns an air conditioning company and the family was cruising on the boat as guests of Tropic Supply, a Florida-based air conditioning wholesale company.
Tropic Supply had invited dozens of contractors to mark the company’s 50th anniversary, according to Daily Mail.
The Post has reached out to the family for comment.
Nearly 400 people have gone overboard on major cruise lines between 2000 and 2020, according to the Washington Post .
As many cases are often deadly, many cruise lines have installed surveillance cameras and employed additional safety measures to help reduce risk.
If you are struggling with suicidal thoughts or are experiencing a mental health crisis and live in New York City, you can call 1-888-NYC-WELL for free and confidential crisis counseling. If you live outside the five boroughs, you can dial the 24/7 National Suicide Prevention hotline at 988 or go to SuicidePreventionLifeline.org.
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This major cruise line operator just announced its biggest ship order ever
One of the world’s leading cruise operators unveiled its biggest ship order ever on Monday.
Norwegian Cruise Line Holdings Ltd. will take delivery of eight ships between 2026 and 2036 across its three brands.
Norwegian Cruise Line will welcome four ships in 2030, 2032, 2034 and 2036, each with a capacity of close to 5,000 guests. The additions are subject to financing.
The vessels will follow the line’s previously announced Prima-Plus class vessels.
The upscale Oceania Cruises will take delivery of two 1,450-guest ships in 2027 and 2029, and luxury line Regent Seven Seas Cruises will add two ships in 2026 and 2029, each accommodating 850 passengers.
"This strategic new-ship order across all three of our award-winning brands provides for the steady introduction of cutting-edge vessels into our fleet and solidifies our long-term growth,” Harry Sommer, the company’s president and CEO, said in a news release . “It also allows us to significantly leverage our operating scale, strengthen our commitment to innovation and enhance our ability to offer our guests new products and experiences, all while providing opportunities to enhance the efficiency of our fleet.”
Specifics about the ships’ accommodations and amenities will be announced “in the coming months,” according to the release.
The company will also add a new multi-ship pier at its private Bahamas island, Great Stirrup Cay, scheduled for completion by late 2025. The pier will be able to accommodate two large ships at once.
Nathan Diller is a consumer travel reporter for USA TODAY based in Nashville. You can reach him at [email protected].
World Travel Holdings
World Travel Holdings specializes in selling dream vacations to millions of customers and is one of the nation’s largest distributors of cruises.
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