Insider Buying: TKO Group Holdings, Inc. (NYSE:TKO) Major Shareholder Buys $18,254,981.36 in Stock

TKO Group Holdings, Inc. (NYSE:TKO) major shareholder Patrick Whitesell bought 120,958 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were bought at an average cost of $150.92 per share, for a total transaction of $18,254,981.36. Following the purchase, the insider now owns 1,152,762 shares of the company’s stock, valued at approximately $173,974,841.04. The trade was a 11.72 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, January 27th, Patrick Whitesell bought 89,234 shares of TKO Group stock. The stock was purchased at an average cost of $153.18 per share, with a total value of $13,668,864.12.
• On Tuesday, January 21st, Patrick Whitesell purchased 108,476 shares of TKO Group stock. The shares were purchased at an average cost of $144.13 per share, for a total transaction of $15,634,645.88.
• On Friday, January 17th, Patrick Whitesell bought 125,589 shares of TKO Group stock. The shares were acquired at an average cost of $143.06 per share, for a total transaction of $17,966,762.34.
• On Monday, December 16th, Patrick Whitesell purchased 263,200 shares of TKO Group stock. The shares were acquired at an average cost of $146.97 per share, with a total value of $38,682,504.00.
• On Friday, December 13th, Patrick Whitesell acquired 245,887 shares of TKO Group stock. The stock was acquired 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 shares were bought at an average cost of $142.03 per share, with a total value of $4,452,924.56.

TKO Group Stock Down 1.0 %

TKO stock opened at $156.81 on Thursday. The stock’s 50 day simple moving average is $142.95 and its 200 day simple moving average is $126.81. The company has a market cap of $26.78 billion, a P/E ratio of -373.36 and a beta of 1.07. 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 fifty-two week low of $78.69 and a fifty-two week high of $159.53.

TKO Group (NYSE:TKO) last issued its earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The firm had revenue of $681.20 million for the quarter, compared to analyst estimates of $665.12 million. During the same period in the previous year, the company earned $0.52 earnings per share. TKO Group’s revenue for the quarter was up 51.7% compared to the same quarter last year. On average, research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TKO shares. UBS Group increased their price target on TKO Group from $135.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. The Goldman Sachs Group upped their price objective on shares of TKO Group from $142.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Pivotal Research lifted their target price on shares of TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, TD Cowen upped their price target on shares of TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.77.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA lifted its position in TKO Group by 29.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock valued at $210,892,000 after acquiring an additional 383,869 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of TKO Group by 59.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company’s stock valued at $119,940,000 after purchasing an additional 362,460 shares in the last quarter. State Street Corp boosted its position in shares of TKO Group by 10.4% during the third quarter. State Street Corp now owns 2,052,916 shares of the company’s stock valued at $253,966,000 after buying an additional 192,602 shares during the last quarter. Ninety One UK Ltd grew its holdings in TKO Group by 4.1% during the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock worth $589,985,000 after buying an additional 163,980 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in TKO Group by 9.5% in the 2nd quarter. Clearbridge Investments LLC now owns 1,800,784 shares of the company’s stock valued at $194,467,000 after buying an additional 155,940 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Company 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.