Covestor Ltd Acquires 288 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Covestor Ltd boosted its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 53.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 825 shares of the company’s stock after purchasing an additional 288 shares during the quarter. Covestor Ltd’s holdings in TKO Group were worth $102,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in shares of TKO Group by 31.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,097 shares of the company’s stock worth $786,000 after buying an additional 2,167 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of TKO Group during the 1st quarter valued at about $262,000. Sei Investments Co. grew its position in shares of TKO Group by 9.9% during the first quarter. Sei Investments Co. now owns 206,369 shares of the company’s stock valued at $17,832,000 after purchasing an additional 18,643 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of TKO Group by 29.8% in the first quarter. Russell Investments Group Ltd. now owns 113,914 shares of the company’s stock worth $9,843,000 after purchasing an additional 26,168 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in TKO Group by 23.8% during the first quarter. TD Asset Management Inc now owns 1,473,435 shares of the company’s stock valued at $127,320,000 after buying an additional 283,731 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the transaction, the insider now directly owns 42,156 shares of the company’s stock, valued at $4,837,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 53.80% of the company’s stock.

TKO Group Stock Down 2.2 %

Shares of NYSE:TKO opened at $116.42 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $121.36 and its 200 day moving average is $113.07. The stock has a market cap of $19.87 billion, a P/E ratio of -277.19 and a beta of 1.06. TKO Group Holdings, Inc. has a 52-week low of $72.33 and a 52-week high of $130.95.

TKO Group (NYSE:TKO) last announced its quarterly 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 firm had revenue of $681.20 million for the quarter, compared to analysts’ expectations of $665.12 million. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The business’s quarterly revenue was up 51.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. Sell-side analysts predict that TKO Group Holdings, Inc. will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

TKO has been the topic of a number of research reports. UBS Group lifted their price objective on TKO Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of TKO Group from $132.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. TD Cowen increased their price objective on shares of TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Benchmark cut shares of TKO Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price target on shares of TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TKO Group has an average rating of “Moderate Buy” and an average target price of $131.00.

About TKO Group

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.