TKO Group Holdings, Inc. (NYSE:TKO) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its position in TKO Group Holdings, Inc. (NYSE:TKO) by 65.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,208 shares of the company’s stock after selling 12,005 shares during the quarter. Cinctive Capital Management LP’s holdings in TKO Group were worth $768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in shares of TKO Group by 267.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company’s stock worth $142,640,000 after acquiring an additional 961,880 shares during the period. Ninety One UK Ltd raised its stake in shares of TKO Group by 15.9% during the 2nd quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company’s stock valued at $439,004,000 after buying an additional 557,444 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of TKO Group by 59.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company’s stock valued at $119,940,000 after buying an additional 362,460 shares during the period. American Century Companies Inc. boosted its stake in shares of TKO Group by 1,439.7% in the second quarter. American Century Companies Inc. now owns 307,405 shares of the company’s stock worth $33,197,000 after buying an additional 287,440 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in TKO Group by 9.5% during the second quarter. Clearbridge Investments LLC now owns 1,800,784 shares of the company’s stock valued at $194,467,000 after acquiring an additional 155,940 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

Insider Transactions at TKO Group

In related news, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares in the company, valued at approximately $4,837,822.56. This trade represents a 42.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 53.80% of the company’s stock.

Analysts Set New Price Targets

TKO has been the topic of several recent research reports. Bank of America began coverage on TKO Group in a research report on Tuesday, August 20th. They issued a “buy” rating and a $140.00 price objective on the stock. Roth Mkm lifted their price objective on shares of TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Guggenheim increased their target price on shares of TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lifted their price target on TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on TKO Group from $132.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.43.

TKO Group Stock Performance

Shares of TKO stock opened at $137.07 on Wednesday. TKO Group Holdings, Inc. has a fifty-two week low of $72.33 and a fifty-two week high of $139.45. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day moving average is $125.12 and its two-hundred day moving average is $116.27.

TKO Group (NYSE:TKO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 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 earnings per share. The business’s quarterly revenue was up 51.7% on a year-over-year basis. As a group, research analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

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.