Judge Rejects UFC Settlement: What's Going On With TKO Group Stock?
Portfolio Pulse from Erica Kollmann
TKO Group Holdings, Inc. (NYSE:TKO) shares are under scrutiny after a judge rejected a $335 million settlement in the UFC class-action lawsuits, setting a trial date for October 28. The judge is seeking a higher settlement amount and major contractual changes. TKO Group could face a larger financial payout if the case goes to trial, potentially impacting its stock price. TKO is set to report its Q2 results on August 8, with analysts expecting earnings of 87 cents per share and revenue of $771.313 million. Analysts have an average 12-month price target of $124.67 for TKO stock.
July 31, 2024 | 7:07 pm
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TKO Group Holdings faces potential financial risk after a judge rejected a $335 million settlement in the UFC class-action lawsuits, setting a trial date for October 28. The judge is seeking a higher settlement amount and major contractual changes, which could lead to a larger financial payout if the case goes to trial. This legal uncertainty may impact TKO's stock price in the short term. Additionally, TKO is set to report its Q2 results on August 8, with analysts expecting earnings of 87 cents per share and revenue of $771.313 million.
The rejection of the $335 million settlement introduces significant legal uncertainty for TKO Group Holdings, which could lead to a larger financial payout if the case goes to trial. This uncertainty is likely to negatively impact the stock price in the short term. Additionally, the upcoming Q2 earnings report on August 8 adds another layer of volatility, although analysts have positive expectations.
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