TKO Group Holdings, Inc. (NYSE:TKO) Major Shareholder Acquires $38,682,504.00 in Stock

TKO Group Holdings, Inc. (NYSE:TKO) major shareholder Patrick Whitesell purchased 263,200 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 418,587 shares of the company’s stock, valued at approximately $61,519,731.39. This trade represents a 169.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Patrick Whitesell also recently made the following trade(s):

• On Friday, December 13th, Patrick Whitesell bought 245,887 shares of TKO Group stock. The shares were purchased at an average cost of $142.45 per share, for a total transaction of $35,026,603.15.
• On Wednesday, December 11th, Patrick Whitesell bought 31,352 shares of TKO Group stock. The stock was purchased at an average cost of $142.03 per share, with a total value of $4,452,924.56.

TKO Group Stock Performance

TKO traded down $5.11 during trading on Wednesday, hitting $142.14. 867,622 shares of the stock were exchanged, compared to its average volume of 1,050,575. The firm has a market capitalization of $24.27 billion, a P/E ratio of -338.43 and a beta of 1.09. TKO Group Holdings, Inc. has a 1-year low of $75.35 and a 1-year high of $149.40. The stock has a fifty day moving average price of $129.36 and a two-hundred day moving average price of $119.13. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). The business 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 firm’s revenue for the quarter was up 51.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, sell-side analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

Hedge Funds Weigh In On TKO Group

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in TKO Group by 52.4% during the 3rd quarter. Blue Trust Inc. now owns 259 shares of the company’s stock worth $32,000 after buying an additional 89 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of TKO Group by 491.5% during the third quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock worth $34,000 after acquiring an additional 231 shares during the period. Signaturefd LLC raised its holdings in TKO Group by 39.4% during the third quarter. Signaturefd LLC now owns 386 shares of the company’s stock worth $48,000 after purchasing an additional 109 shares in the last quarter. Quarry LP acquired a new stake in TKO Group in the second quarter valued at about $51,000. Finally, International Assets Investment Management LLC lifted its position in TKO Group by 12,275.0% in the third quarter. International Assets Investment Management LLC now owns 495 shares of the company’s stock valued at $61,000 after purchasing an additional 491 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TKO shares. JPMorgan Chase & Co. lifted their price objective on shares of TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. TD Cowen boosted their price target on shares of TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Bank of America initiated coverage on TKO Group in a research note on Tuesday, August 20th. They issued a “buy” rating and a $140.00 price objective on the stock. The Goldman Sachs Group upped their price target on TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Pivotal Research boosted their price objective on TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.79.

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.