Geode Capital Management LLC Buys 85,160 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Geode Capital Management LLC boosted its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,241,918 shares of the company’s stock after acquiring an additional 85,160 shares during the period. Geode Capital Management LLC owned 0.73% of TKO Group worth $153,931,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Petrus Trust Company LTA purchased a new stake in shares of TKO Group during the third quarter worth about $597,000. HighTower Advisors LLC boosted its stake in TKO Group by 177.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,197 shares of the company’s stock worth $3,225,000 after purchasing an additional 16,746 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TKO Group by 29.1% during 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 buying an additional 383,869 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of TKO Group by 499.8% during the third quarter. Central Pacific Bank Trust Division now owns 5,998 shares of the company’s stock valued at $742,000 after buying an additional 4,998 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of TKO Group by 14.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 452,753 shares of the company’s stock worth $56,010,000 after acquiring an additional 56,312 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. The Goldman Sachs Group boosted their target price on TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Pivotal Research raised their price target on TKO Group from $145.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Roth Mkm lifted their price objective on TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Benchmark downgraded TKO Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.93.

Insiders Place Their Bets

In related news, CEO Ariel Emanuel purchased 60,208 shares of TKO Group stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $143.73 per share, with a total value of $8,653,695.84. Following the purchase, the chief executive officer now directly owns 1,734,530 shares of the company’s stock, valued at approximately $249,303,996.90. This represents a 3.60 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Patrick Whitesell acquired 245,887 shares of the stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $142.45 per share, with a total value of $35,026,603.15. Following the completion of the transaction, the insider now owns 1,825,030 shares in the company, valued at $259,975,523.50. This trade represents a 15.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 337,447 shares of company stock worth $48,133,224 over the last quarter. Company insiders own 53.80% of the company’s stock.

TKO Group Price Performance

TKO Group stock opened at $147.05 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $25.11 billion, a PE ratio of -350.12 and a beta of 1.09. TKO Group Holdings, Inc. has a 12-month low of $75.35 and a 12-month high of $149.40. The firm has a 50-day moving average price of $128.66 and a 200-day moving average price of $118.69.

TKO Group (NYSE:TKO) last released 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 for the quarter, compared to the consensus estimate of $665.12 million. During the same period in the prior year, the company posted $0.52 EPS. The company’s quarterly revenue was up 51.7% compared to the same quarter last year. As a group, equities research analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

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.