TKO Group Holdings, Inc. (NYSE:TKO) Shares Sold by Tremblant Capital Group

Tremblant Capital Group cut its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 14.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,460 shares of the company’s stock after selling 95,150 shares during the quarter. TKO Group comprises 6.5% of Tremblant Capital Group’s portfolio, making the stock its 4th biggest position. Tremblant Capital Group owned about 0.33% of TKO Group worth $60,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of TKO Group by 15.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,930 shares of the company’s stock worth $565,000 after buying an additional 928 shares during the period. Norges Bank purchased a new stake in shares of TKO Group in the fourth quarter worth about $42,998,000. Wells Fargo & Company MN boosted its position in shares of TKO Group by 15.2% in the fourth quarter. Wells Fargo & Company MN now owns 148,677 shares of the company’s stock worth $12,129,000 after buying an additional 19,632 shares during the period. Commerce Bank boosted its position in shares of TKO Group by 5.0% in the fourth quarter. Commerce Bank now owns 6,973 shares of the company’s stock worth $569,000 after buying an additional 332 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of TKO Group by 9.9% in the fourth quarter. Intech Investment Management LLC now owns 7,795 shares of the company’s stock worth $636,000 after buying an additional 699 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Price Performance

Shares of NYSE:TKO opened at $121.97 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. TKO Group Holdings, Inc. has a 1 year low of $72.33 and a 1 year high of $125.49. The business has a fifty day simple moving average of $114.39 and a 200 day simple moving average of $104.79. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of -120.76 and a beta of 1.04.

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

Wall Street Analyst Weigh In

TKO has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. TD Cowen increased their target price on TKO Group from $127.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Bank of America assumed coverage on TKO Group in a report on Tuesday, August 20th. They set a “buy” rating and a $140.00 target price on the stock. Redburn Atlantic assumed coverage on TKO Group in a report on Thursday, July 18th. They set a “buy” rating and a $129.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $132.00 target price on shares of TKO Group in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.13.

Insider Buying and Selling at TKO Group

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the transaction, the insider now directly owns 42,156 shares in the company, valued at $4,837,822.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Mark S. Shapiro sold 31,026 shares of TKO Group 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 transaction, the insider now directly owns 42,156 shares in the company, valued at $4,837,822.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nick Khan sold 22,693 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $105.53, for a total value of $2,394,792.29. Following the sale, the director now owns 220,018 shares of the company’s stock, valued at approximately $23,218,499.54. The disclosure for this sale can be found here. Corporate insiders own 53.80% of the company’s stock.

TKO Group 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.