Maryland State Retirement & Pension System Acquires 1,425 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Maryland State Retirement & Pension System boosted its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 30.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,146 shares of the company’s stock after purchasing an additional 1,425 shares during the period. Maryland State Retirement & Pension System’s holdings in TKO Group were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of TKO Group by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 5,995,356 shares of the company’s stock valued at $489,101,000 after acquiring an additional 1,002,121 shares in the last quarter. XN LP grew its stake in TKO Group by 100.9% in the first quarter. XN LP now owns 1,983,346 shares of the company’s stock valued at $171,381,000 after purchasing an additional 996,161 shares in the last quarter. TD Asset Management Inc increased its position in shares of TKO Group by 215.3% during the 4th quarter. TD Asset Management Inc now owns 1,189,704 shares of the company’s stock worth $97,056,000 after purchasing an additional 812,336 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of TKO Group by 15.9% during the 2nd quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company’s stock worth $439,004,000 after purchasing an additional 557,444 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of TKO Group in the 4th quarter valued at approximately $42,998,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In related news, Director Nick Khan sold 22,693 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $105.53, for a total value of $2,394,792.29. Following the completion of the transaction, the director now owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 53.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TKO has been the topic of a number of recent analyst reports. Bank of America began coverage on shares of TKO Group in a report on Tuesday, August 20th. They set a “buy” rating and a $140.00 target price on the stock. Roth Mkm upped their target price on shares of TKO Group from $121.00 to $130.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Redburn Atlantic initiated coverage on TKO Group in a research report on Thursday, July 18th. They set a “buy” rating and a $129.00 price target on the stock. Finally, Morgan Stanley raised their price target on TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.93.

TKO Group Price Performance

Shares of TKO Group stock opened at $118.23 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of -117.06 and a beta of 1.04. TKO Group Holdings, Inc. has a twelve month low of $72.33 and a twelve month high of $120.70. The company has a 50-day simple moving average of $111.90 and a two-hundred day simple moving average of $101.18.

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