Algert Global LLC Acquires New Position in TKO Group Holdings, Inc. (NYSE:TKO)

Algert Global LLC bought a new position in TKO Group Holdings, Inc. (NYSE:TKO) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 23,292 shares of the company’s stock, valued at approximately $2,515,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in TKO Group by 15.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,930 shares of the company’s stock valued at $565,000 after buying an additional 928 shares during the period. TFO Wealth Partners LLC purchased a new stake in TKO Group in the 4th quarter worth approximately $124,000. Annex Advisory Services LLC grew its position in shares of TKO Group by 174.3% in the 4th quarter. Annex Advisory Services LLC now owns 137,545 shares of the company’s stock worth $11,221,000 after buying an additional 87,392 shares during the last quarter. American International Group Inc. increased its stake in shares of TKO Group by 10.1% during the fourth quarter. American International Group Inc. now owns 81,579 shares of the company’s stock valued at $6,655,000 after buying an additional 7,456 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in shares of TKO Group by 95.6% during the fourth quarter. Epoch Investment Partners Inc. now owns 852,609 shares of the company’s stock valued at $69,556,000 after acquiring an additional 416,726 shares in the last quarter. Institutional investors own 89.79% of the company’s stock.

Insider Activity

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction that occurred on 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 completion of the sale, the insider now owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other TKO Group news, 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 value of $2,394,792.29. Following the transaction, the director now owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Insiders own 53.80% of the company’s stock.

TKO Group Stock Performance

Shares of TKO Group stock opened at $122.26 on Wednesday. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of -121.05 and a beta of 1.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. TKO Group Holdings, Inc. has a 1 year low of $72.33 and a 1 year high of $125.49. The firm’s 50-day moving average is $116.49 and its 200 day moving average is $106.57.

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

Analyst Ratings Changes

TKO has been the topic of several recent analyst reports. Pivotal Research initiated coverage on shares of TKO Group in a report on Friday, September 13th. They issued a “buy” rating and a $170.00 price target on the stock. Redburn Atlantic initiated coverage on shares of TKO Group in a research report on Thursday, July 18th. They set a “buy” rating and a $129.00 price target on the stock. Guggenheim raised their price objective on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. Bank of America began 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. Finally, UBS Group lifted their price target on TKO Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.