TKO Group Holdings, Inc. (NYSE:TKO) Major Shareholder Acquires $38,682,504.00 in Stock

TKO Group Holdings, Inc. (NYSE:TKO) major shareholder Patrick Whitesell purchased 263,200 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $146.97 per share, with a total value of $38,682,504.00. Following the transaction, the insider now directly owns 418,587 shares of the company’s stock, valued at $61,519,731.39. This represents a 169.38 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Patrick Whitesell also recently made the following trade(s):

• On Friday, December 13th, Patrick Whitesell acquired 245,887 shares of TKO Group stock. The shares were bought at an average cost of $142.45 per share, for a total transaction of $35,026,603.15.
• On Wednesday, December 11th, Patrick Whitesell bought 31,352 shares of TKO Group stock. The stock was purchased at an average cost of $142.03 per share, with a total value of $4,452,924.56.

TKO Group Stock Up 1.2 %

TKO opened at $143.79 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. TKO Group Holdings, Inc. has a 1 year low of $75.35 and a 1 year high of $149.40. The firm has a 50 day moving average price of $129.70 and a 200 day moving average price of $119.30. The company has a market cap of $24.55 billion, a PE ratio of -342.36 and a beta of 1.09.

TKO Group (NYSE:TKO) last issued its earnings results on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The business had revenue of $681.20 million during the quarter, compared to analysts’ expectations of $665.12 million. During the same period in the prior year, the business posted $0.52 EPS. The business’s revenue was up 51.7% on a year-over-year basis. Sell-side analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

Analyst Ratings Changes

TKO has been the subject of a number of recent research reports. Pivotal Research lifted their price target on shares of TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Citigroup lifted their target price on shares of TKO Group from $137.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group increased their price target on TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen lifted their price objective on TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in shares of TKO Group by 109.8% in the second quarter. SG Americas Securities LLC now owns 3,323 shares of the company’s stock valued at $359,000 after buying an additional 1,739 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in TKO Group in the second quarter valued at approximately $222,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of TKO Group by 10.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,156 shares of the company’s stock valued at $341,000 after purchasing an additional 286 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of TKO Group by 8.9% during the second quarter. Nisa Investment Advisors LLC now owns 5,114 shares of the company’s stock worth $552,000 after purchasing an additional 419 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in shares of TKO Group in the second quarter valued at $274,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

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.