Allspring Global Investments Holdings LLC Grows Stock Position in TKO Group Holdings, Inc. (NYSE:TKO)

Allspring Global Investments Holdings LLC increased its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 51.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 799,921 shares of the company’s stock after buying an additional 272,134 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.47% of TKO Group worth $69,121,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in TKO Group in the third quarter valued at approximately $419,731,000. TD Asset Management Inc raised its position in TKO Group by 215.3% in the fourth quarter. TD Asset Management Inc now owns 1,189,704 shares of the company’s stock valued at $97,056,000 after purchasing an additional 812,336 shares during the period. Ameriprise Financial Inc. purchased a new stake in TKO Group in the third quarter valued at approximately $64,949,000. Norges Bank purchased a new stake in TKO Group in the fourth quarter valued at approximately $42,998,000. Finally, Victory Capital Management Inc. raised its position in TKO Group by 386.8% in the fourth quarter. Victory Capital Management Inc. now owns 613,917 shares of the company’s stock valued at $50,083,000 after purchasing an additional 487,796 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Trading Up 2.4 %

Shares of TKO stock opened at $110.15 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $104.25 and a 200 day moving average price of $91.75. TKO Group Holdings, Inc. has a 12 month low of $72.33 and a 12 month high of $111.07.

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

Insider Buying and Selling at TKO Group

In other TKO Group news, major shareholder Vincent K. Mcmahon sold 1,642,970 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $89.01, for a total value of $146,240,759.70. Following the completion of the transaction, the insider now owns 9,875,129 shares in the company, valued at $878,985,232.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 53.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TKO shares. Citigroup boosted their target price on TKO Group from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Jefferies Financial Group upped their price objective on TKO Group from $120.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on TKO Group from $103.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Roth Mkm upped their price objective on TKO Group from $112.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group began coverage on TKO Group in a research report on Thursday, March 7th. They set a “buy” rating and a $102.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.46.

TKO Group Company 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.