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

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

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

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

TKO Group Stock Down 0.2 %

Shares of TKO Group stock opened at $143.54 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $130.02 and a 200 day moving average price of $119.54. TKO Group Holdings, Inc. has a fifty-two week low of $75.35 and a fifty-two week high of $149.40. The firm has a market cap of $24.51 billion, a P/E ratio of -341.76 and a beta of 1.09.

TKO Group (NYSE:TKO) last issued its quarterly 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 negative net margin of 1.26% and a positive return on equity of 3.39%. The firm had revenue of $681.20 million during the quarter, compared to the consensus estimate of $665.12 million. During the same quarter last year, the firm posted $0.52 earnings per share. TKO Group’s revenue was up 51.7% compared to the same quarter last year. On average, sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

Institutional Trading of TKO Group

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of TKO Group by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,246,338 shares of the company’s stock valued at $154,185,000 after buying an additional 13,148 shares during the last quarter. Retirement Systems of Alabama boosted its stake in TKO Group by 11.0% in the third quarter. Retirement Systems of Alabama now owns 80,707 shares of the company’s stock valued at $9,984,000 after acquiring an additional 8,006 shares during the period. Tidal Investments LLC grew its holdings in shares of TKO Group by 259.1% during the third quarter. Tidal Investments LLC now owns 21,803 shares of the company’s stock valued at $2,697,000 after purchasing an additional 15,732 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of TKO Group during the 3rd quarter worth approximately $426,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of TKO Group by 38.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,712 shares of the company’s stock worth $911,000 after purchasing an additional 1,858 shares during the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TKO shares. The Goldman Sachs Group upped their price target on shares of TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Guggenheim increased their target price on TKO Group from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Roth Mkm boosted their price target on TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Pivotal Research increased their price objective on shares of TKO Group from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.79.

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.