Symmetry Investments LP Cuts Position in TKO Group Holdings, Inc. (NYSE:TKO)

Symmetry Investments LP trimmed its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 54.0% in the second quarter, HoldingsChannel.com reports. The fund owned 67,353 shares of the company’s stock after selling 79,111 shares during the period. TKO Group makes up 0.8% of Symmetry Investments LP’s investment portfolio, making the stock its 28th largest position. Symmetry Investments LP’s holdings in TKO Group were worth $7,273,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. MFA Wealth Advisors LLC bought a new position in TKO Group in the 2nd quarter valued at $36,000. GAMMA Investing LLC grew its position in TKO Group by 388.6% during the second quarter. GAMMA Investing LLC now owns 513 shares of the company’s stock valued at $55,000 after buying an additional 408 shares during the period. Scarborough Advisors LLC purchased a new stake in TKO Group during the fourth quarter worth about $79,000. Sunbelt Securities Inc. raised its position in TKO Group by 1,384.4% in the first quarter. Sunbelt Securities Inc. now owns 1,143 shares of the company’s stock worth $99,000 after acquiring an additional 1,066 shares during the period. Finally, TFO Wealth Partners LLC purchased a new position in TKO Group in the fourth quarter valued at about $124,000. 89.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TKO shares. Pivotal Research started coverage on shares of TKO Group in a report on Friday, September 13th. They issued a “buy” rating and a $170.00 price target on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $132.00 target price on shares of TKO Group in a research note on Thursday, September 12th. TD Cowen increased their price target on TKO Group from $127.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Bank of America started 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. Finally, Morgan Stanley increased their target price on shares of TKO Group from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.13.

TKO Group Stock Performance

TKO Group stock opened at $121.99 on Friday. The firm’s 50 day simple moving average is $113.87 and its 200 day simple moving average is $103.88. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. TKO Group Holdings, Inc. has a 1-year low of $72.33 and a 1-year high of $125.49. The firm has a market capitalization of $20.78 billion, a PE ratio of -120.78 and a beta of 1.04.

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

Insider Activity

In related news, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the transaction, the insider now directly owns 42,156 shares in the company, valued at $4,837,822.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other TKO Group news, Director Nick Khan sold 22,693 shares of TKO Group stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the completion of the sale, the director now owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark S. Shapiro sold 31,026 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares in the company, valued at $4,837,822.56. The disclosure for this sale can be found here. Corporate insiders own 53.80% of the company’s stock.

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.