Crossmark Global Holdings Inc. Reduces Position in TKO Group Holdings, Inc. (NYSE:TKO)

Crossmark Global Holdings Inc. trimmed its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 4.9% during the fourth quarter, HoldingsChannel reports. The firm owned 4,113 shares of the company’s stock after selling 210 shares during the period. Crossmark Global Holdings Inc.’s holdings in TKO Group were worth $584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TKO. BigSur Wealth Management LLC acquired a new stake in shares of TKO Group in the fourth quarter valued at approximately $320,000. UMB Bank n.a. grew its holdings in TKO Group by 72.8% in the 4th quarter. UMB Bank n.a. now owns 273 shares of the company’s stock valued at $39,000 after buying an additional 115 shares in the last quarter. Annex Advisory Services LLC increased its stake in shares of TKO Group by 20.5% in the 4th quarter. Annex Advisory Services LLC now owns 282,394 shares of the company’s stock worth $40,131,000 after acquiring an additional 47,996 shares during the last quarter. O Keefe Stevens Advisory Inc. purchased a new position in shares of TKO Group during the 4th quarter worth $220,000. Finally, Brooklyn Investment Group boosted its position in shares of TKO Group by 213.0% during the 4th quarter. Brooklyn Investment Group now owns 360 shares of the company’s stock valued at $51,000 after acquiring an additional 245 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TKO. Guggenheim lifted their target price on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Citigroup raised their target price on TKO Group from $137.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. TD Cowen increased their price target on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, UBS Group boosted their price objective on shares of TKO Group from $135.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.21.

Insider Buying and Selling

In other news, insider Seth D. Krauss sold 2,438 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $143.80, for a total value of $350,584.40. Following the sale, the insider now directly owns 7,983 shares in the company, valued at approximately $1,147,955.40. This trade represents a 23.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Patrick Whitesell bought 263,200 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $146.97 per share, with a total value of $38,682,504.00. Following the purchase, the insider now owns 418,587 shares of the company’s stock, valued at approximately $61,519,731.39. This represents a 169.38 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 950,664 shares of company stock worth $137,096,831 and have sold 71,457 shares worth $10,153,456. Insiders own 53.80% of the company’s stock.

TKO Group Stock Performance

Shares of TKO stock opened at $153.06 on Friday. TKO Group Holdings, Inc. has a 52 week low of $78.69 and a 52 week high of $154.25. The firm has a 50 day moving average of $141.35 and a two-hundred day moving average of $125.85. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $26.14 billion, a PE ratio of -364.44 and a beta of 1.07.

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