Clearbridge Investments LLC Acquires 155,940 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Clearbridge Investments LLC raised its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 9.5% in the 2nd quarter, Holdings Channel reports. The firm owned 1,800,784 shares of the company’s stock after purchasing an additional 155,940 shares during the quarter. Clearbridge Investments LLC’s holdings in TKO Group were worth $194,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its stake in shares of TKO Group by 2.8% in the second quarter. Bank of Montreal Can now owns 6,652 shares of the company’s stock valued at $719,000 after buying an additional 184 shares during the period. Truist Financial Corp boosted its holdings in TKO Group by 4.9% in the second quarter. Truist Financial Corp now owns 5,278 shares of the company’s stock valued at $570,000 after acquiring an additional 248 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in TKO Group by 10.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,156 shares of the company’s stock valued at $341,000 after acquiring an additional 286 shares during the last quarter. State of Michigan Retirement System increased its position in TKO Group by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 14,710 shares of the company’s stock valued at $1,271,000 after purchasing an additional 300 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in TKO Group during the 2nd quarter worth approximately $36,000. 89.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In related news, insider Mark S. Shapiro sold 31,026 shares of the firm’s 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 of the company’s stock, valued at approximately $4,837,822.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Mark S. Shapiro sold 31,026 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $114.76, for a total value of $3,560,543.76. Following the completion of the sale, the insider now directly owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nick Khan sold 22,693 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $105.53, for a total value of $2,394,792.29. Following the transaction, the director now owns 220,018 shares in the company, valued at $23,218,499.54. The disclosure for this sale can be found here. 53.80% of the stock is currently owned by insiders.

TKO Group Trading Down 1.2 %

Shares of TKO Group stock opened at $122.26 on Wednesday. The stock has a market capitalization of $20.82 billion, a PE ratio of -121.05 and a beta of 1.04. TKO Group Holdings, Inc. has a 52 week low of $72.33 and a 52 week high of $125.49. The stock has a 50 day moving average price of $116.49 and a two-hundred day moving average price of $106.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price target on shares of TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. 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 report on Friday, August 9th. Guggenheim boosted their price objective on TKO Group from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Monday. Finally, Roth Mkm raised their target price on TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.47.

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.