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

Clearbridge Investments LLC raised its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,800,784 shares of the company’s stock after acquiring an additional 155,940 shares during the quarter. Clearbridge Investments LLC owned about 1.06% of TKO Group worth $194,467,000 at the end of the most recent reporting period.

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

TKO Group Price Performance

Shares of TKO stock opened at $122.26 on Wednesday. TKO Group Holdings, Inc. has a twelve month low of $72.33 and a twelve month high of $125.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $116.49 and a 200 day simple moving average of $106.57. The company has a market cap of $20.82 billion, a P/E ratio of -121.05 and a beta of 1.04.

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

Insiders Place Their Bets

In other news, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the completion of the transaction, the insider now directly owns 42,156 shares in the company, valued at $4,837,822.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 sale, the director now directly owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark S. Shapiro sold 31,026 shares of the business’s stock in a transaction dated 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 sale, 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. Insiders own 53.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TKO. Morgan Stanley raised their price target 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. Roth Mkm raised their target price on shares of TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. UBS Group boosted their price target on TKO Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Pivotal Research initiated coverage on TKO Group in a research report on Friday, September 13th. They set a “buy” rating and a $170.00 price target on the stock. Finally, TD Cowen lifted their price objective on TKO Group from $127.00 to $140.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.47.

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.