Coronation Fund Managers Ltd. Cuts Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Coronation Fund Managers Ltd. cut its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 24.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 167,636 shares of the company’s stock after selling 53,433 shares during the quarter. Coronation Fund Managers Ltd. owned approximately 0.10% of TKO Group worth $18,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Clearbridge Investments LLC increased its position in shares of TKO Group by 9.5% in the 2nd quarter. Clearbridge Investments LLC now owns 1,800,784 shares of the company’s stock valued at $194,467,000 after purchasing an additional 155,940 shares during the last quarter. Truist Financial Corp grew its stake in shares of TKO Group by 4.9% during the second quarter. Truist Financial Corp now owns 5,278 shares of the company’s stock worth $570,000 after purchasing an additional 248 shares in the last quarter. Quarry LP acquired a new position in shares of TKO Group during the second quarter worth $51,000. Creative Planning increased its holdings in TKO Group by 8.9% in the second quarter. Creative Planning now owns 9,985 shares of the company’s stock valued at $1,078,000 after buying an additional 816 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in TKO Group in the second quarter valued at $2,515,000. 89.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TKO has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Bank of America initiated coverage on shares of TKO Group in a research report on Tuesday, August 20th. They set a “buy” rating and a $140.00 price objective for the company. Redburn Atlantic started coverage on shares of TKO Group in a research note on Thursday, July 18th. They issued a “buy” rating and a $129.00 price objective for the company. Finally, Guggenheim boosted their target price on TKO Group from $135.00 to $140.00 and gave the company a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.47.

TKO Group Price Performance

Shares of NYSE TKO opened at $122.26 on Wednesday. The stock has a fifty day moving average price of $116.49 and a 200 day moving average price of $106.57. TKO Group Holdings, Inc. has a 1-year low of $72.33 and a 1-year high of $125.49. 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 company has a market cap of $20.82 billion, a PE ratio of -121.05 and a beta of 1.04.

TKO Group (NYSE:TKO) last released its earnings results on Thursday, August 8th. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.10). TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The firm had revenue of $851.20 million during the quarter, compared to analyst estimates of $771.54 million. During the same quarter last year, the business posted $0.91 EPS. The firm’s revenue was up 178.9% on a year-over-year basis. Sell-side analysts forecast that TKO Group Holdings, Inc. will post 4.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark S. Shapiro sold 31,026 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $114.76, for a total value of $3,560,543.76. Following the completion of the sale, the insider now directly owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Nick Khan sold 22,693 shares of the firm’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 in the company, valued at $23,218,499.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares in the company, valued at $4,837,822.56. The disclosure for this sale can be found here. 53.80% of the stock is currently owned by insiders.

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.