Federated Hermes Inc. Boosts Stock Position in TKO Group Holdings, Inc. (NYSE:TKO)

Federated Hermes Inc. grew its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 56.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,525 shares of the company’s stock after buying an additional 2,718 shares during the period. Federated Hermes Inc.’s holdings in TKO Group were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new stake in TKO Group during the 2nd quarter worth $36,000. GAMMA Investing LLC lifted its holdings in shares of TKO Group by 388.6% in the 2nd quarter. GAMMA Investing LLC now owns 513 shares of the company’s stock valued at $55,000 after purchasing an additional 408 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of TKO Group in the 4th quarter valued at about $79,000. Sunbelt Securities Inc. grew its stake in TKO Group by 1,384.4% during the 1st quarter. Sunbelt Securities Inc. now owns 1,143 shares of the company’s stock worth $99,000 after buying an additional 1,066 shares during the last quarter. Finally, TFO Wealth Partners LLC acquired a new position in TKO Group during the fourth quarter worth approximately $124,000. 89.79% of the stock is owned by institutional investors and hedge funds.

TKO Group Trading Down 2.1 %

NYSE:TKO opened at $121.94 on Monday. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of -120.73 and a beta of 1.04. TKO Group Holdings, Inc. has a one year low of $72.33 and a one year high of $125.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50-day simple moving average is $114.08 and its 200 day simple moving average is $104.32.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of TKO Group from $127.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Morgan Stanley lifted 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. The Goldman Sachs Group reiterated a “buy” rating and set a $132.00 target price on shares of TKO Group in a research note on Thursday, September 12th. Finally, Roth Mkm upped their price objective on TKO Group from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.13.

Insiders Place Their Bets

In related 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 value of $2,394,792.29. Following the completion of the transaction, the director now directly owns 220,018 shares in the company, valued at $23,218,499.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 directly owns 42,156 shares in the company, valued at approximately $4,837,822.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nick Khan sold 22,693 shares of the 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 owns 220,018 shares in the company, valued at approximately $23,218,499.54. The disclosure for this sale can be found here. 53.80% of the stock is owned by company insiders.

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.