TKO Group Holdings, Inc. (NYSE:TKO) Stake Lifted by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 59.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,004 shares of the company’s stock after acquiring an additional 4,836 shares during the period. Park Avenue Securities LLC’s holdings in TKO Group were worth $1,848,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of TKO Group by 29.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock valued at $210,892,000 after acquiring an additional 383,869 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in TKO Group by 59.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company’s stock valued at $119,940,000 after buying an additional 362,460 shares during the last quarter. State Street Corp grew its stake in TKO Group by 10.4% in the 3rd quarter. State Street Corp now owns 2,052,916 shares of the company’s stock valued at $253,966,000 after buying an additional 192,602 shares during the last quarter. Clearbridge Investments LLC grew its position in TKO Group by 9.5% in the 2nd quarter. Clearbridge Investments LLC now owns 1,800,784 shares of the company’s stock worth $194,467,000 after purchasing an additional 155,940 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in TKO Group by 26.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 448,205 shares of the company’s stock worth $48,402,000 after purchasing an additional 94,944 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TKO shares. Citigroup raised their price objective on shares of TKO Group from $137.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Pivotal Research boosted their target price on shares of TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price target on shares of TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Guggenheim lifted their price target on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Benchmark cut shares of TKO Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, TKO Group currently has an average rating of “Moderate Buy” and a consensus price target of $139.29.

Insider Activity at TKO Group

In related news, major shareholder Patrick Whitesell bought 31,352 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of $142.03 per share, with a total value of $4,452,924.56. Following the completion of the acquisition, the insider now owns 1,674,322 shares of the company’s stock, valued at $237,803,953.66. The trade was a 1.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew M. Schleimer sold 5,419 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $141.94, for a total transaction of $769,172.86. Following the completion of the transaction, the chief financial officer now directly owns 6,995 shares of the company’s stock, valued at $992,870.30. This trade represents a 43.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 600,647 shares of company stock worth $86,815,728 and have sold 65,624 shares worth $9,314,671. 53.80% of the stock is currently owned by corporate insiders.

TKO Group Stock Performance

NYSE TKO opened at $142.06 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average price is $138.47 and its two-hundred day moving average price is $124.62. TKO Group Holdings, Inc. has a 1 year low of $75.35 and a 1 year high of $149.40. The firm has a market capitalization of $24.26 billion, a P/E ratio of -338.23 and a beta of 1.07.

TKO Group (NYSE:TKO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.28). TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The company had revenue of $681.20 million during the quarter, compared to analyst estimates of $665.12 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. TKO Group’s revenue for the quarter was up 51.7% on a year-over-year basis. As a group, research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group 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.