Sunbelt Securities Inc. Acquires 1,066 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Sunbelt Securities Inc. grew its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 1,384.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,143 shares of the company’s stock after purchasing an additional 1,066 shares during the period. Sunbelt Securities Inc.’s holdings in TKO Group were worth $99,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TKO. HighTower Advisors LLC bought a new stake in TKO Group in the 3rd quarter worth about $258,000. Envestnet Asset Management Inc. purchased a new position in shares of TKO Group during the third quarter valued at approximately $6,455,000. Federated Hermes Inc. bought a new position in TKO Group during the third quarter valued at approximately $450,000. Northern Trust Corp bought a new stake in TKO Group in the 3rd quarter worth approximately $53,329,000. Finally, Natixis Advisors L.P. purchased a new stake in TKO Group during the 3rd quarter valued at $1,238,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Trading Down 0.0 %

Shares of NYSE TKO opened at $107.99 on Friday. The stock has a market capitalization of $18.39 billion, a P/E ratio of -106.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50 day moving average is $103.72 and its two-hundred day moving average is $91.16. TKO Group Holdings, Inc. has a 1-year low of $72.33 and a 1-year high of $111.07.

TKO Group (NYSE:TKO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $1.63. The company had revenue of $629.70 million during the quarter, compared to analysts’ expectations of $609.28 million. TKO Group had a positive return on equity of 4.15% and a negative net margin of 4.14%. As a group, research analysts expect that TKO Group Holdings, Inc. will post 4.19 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Vincent K. Mcmahon sold 1,642,970 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $89.01, for a total value of $146,240,759.70. Following the transaction, the insider now owns 9,875,129 shares of the company’s stock, valued at $878,985,232.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 53.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup lifted their price objective on TKO Group from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Roth Mkm increased their price objective on shares of TKO Group from $112.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Bank of America initiated coverage on shares of TKO Group in a research report on Friday, March 15th. They set a “buy” rating and a $100.00 target price for the company. Jefferies Financial Group upped their target price on shares of TKO Group from $120.00 to $131.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, The Goldman Sachs Group initiated coverage on TKO Group in a research note on Thursday, March 7th. They issued a “buy” rating and a $102.00 price objective for the company. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, TKO Group currently has a consensus rating of “Moderate Buy” and an average price target of $113.46.

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.