TKO Group Holdings, Inc. (NYSE:TKO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 27.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,173,000 shares of the company’s stock after selling 444,300 shares during the quarter. Renaissance Technologies LLC’s holdings in TKO Group were worth $126,672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TKO. MFA Wealth Advisors LLC purchased a new position in TKO Group in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC raised its stake in shares of TKO Group by 388.6% during the 2nd quarter. GAMMA Investing LLC now owns 513 shares of the company’s stock worth $55,000 after buying an additional 408 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of TKO Group in the 4th quarter worth about $79,000. Sunbelt Securities Inc. grew its stake in TKO Group by 1,384.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,143 shares of the company’s stock valued at $99,000 after acquiring an additional 1,066 shares during the last quarter. Finally, TFO Wealth Partners LLC purchased a new position in TKO Group during the 4th quarter valued at about $124,000. 89.79% of the stock is owned by hedge funds and other institutional investors.

TKO Group Price Performance

TKO opened at $115.34 on Monday. TKO Group Holdings, Inc. has a twelve month low of $72.33 and a twelve month high of $120.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. The firm has a market cap of $19.68 billion, a price-to-earnings ratio of -114.20 and a beta of 1.04. The company has a fifty day simple moving average of $113.01 and a 200 day simple moving average of $103.09.

TKO Group (NYSE:TKO) last released its quarterly 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). TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The business had revenue of $851.20 million during the quarter, compared to analyst estimates of $771.54 million. During the same quarter last year, the firm posted $0.91 EPS. The company’s revenue was up 178.9% compared to the same quarter last year. Equities research analysts expect that TKO Group Holdings, Inc. will post 4.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nick Khan sold 22,693 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $105.53, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 53.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on TKO. The Goldman Sachs Group reiterated a “buy” rating and issued a $132.00 price target on shares of TKO Group in a research report on Thursday. Roth Mkm boosted their price target on TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Redburn Atlantic assumed coverage on TKO Group in a research note on Thursday, July 18th. They set a “buy” rating and a $129.00 price objective on the stock. Morgan Stanley lifted their price objective on TKO Group from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and an average target price of $127.13.

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.