Everence Capital Management Inc. Acquires New Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Everence Capital Management Inc. bought a new position in TKO Group Holdings, Inc. (NYSE:TKO) during the 4th quarter, Holdings Channel.com reports. The fund bought 2,490 shares of the company’s stock, valued at approximately $354,000.

A number of other large investors have also made changes to their positions in the company. Retirement Systems of Alabama grew its position in TKO Group by 11.0% during the third quarter. Retirement Systems of Alabama now owns 80,707 shares of the company’s stock valued at $9,984,000 after buying an additional 8,006 shares during the period. HighTower Advisors LLC increased its stake in shares of TKO Group by 177.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,197 shares of the company’s stock worth $3,225,000 after purchasing an additional 16,746 shares in the last quarter. Petrus Trust Company LTA bought a new position in TKO Group in the 3rd quarter worth $597,000. Principal Financial Group Inc. lifted its position in TKO Group by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,246,338 shares of the company’s stock valued at $154,185,000 after purchasing an additional 13,148 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in TKO Group by 29.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock valued at $210,892,000 after purchasing an additional 383,869 shares during the period. 89.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Shane Kapral sold 1,034 shares of TKO Group stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $141.94, for a total value of $146,765.96. Following the completion of the transaction, the chief accounting officer now owns 2,225 shares in the company, valued at approximately $315,816.50. The trade was a 31.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ariel Emanuel bought 60,208 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $143.73 per share, for a total transaction of $8,653,695.84. Following the transaction, the chief executive officer now owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. The trade was a 3.60 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 600,647 shares of company stock valued at $86,815,728 and have sold 65,624 shares valued at $9,314,671. 53.80% of the stock is currently owned by insiders.

TKO Group Trading Down 0.5 %

TKO stock opened at $141.74 on Tuesday. The firm has a market cap of $24.20 billion, a PE ratio of -337.48 and a beta of 1.07. The firm has a fifty day moving average price of $134.17 and a 200 day moving average price of $122.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. TKO Group Holdings, Inc. has a fifty-two week low of $75.35 and a fifty-two week high of $149.40.

TKO Group (NYSE:TKO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). The business had revenue of $681.20 million during the quarter, compared to analysts’ expectations of $665.12 million. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The business’s quarterly revenue was up 51.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TKO shares. Benchmark downgraded TKO Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Cowen increased their price objective 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. JPMorgan Chase & Co. upped their target price on shares of TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup raised their price target on TKO Group from $137.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Guggenheim upped their price objective on TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.79.

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.