Principal Financial Group Inc. Sells 162,552 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Principal Financial Group Inc. lowered its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,083,786 shares of the company’s stock after selling 162,552 shares during the period. Principal Financial Group Inc. owned about 0.63% of TKO Group worth $154,018,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its stake in TKO Group by 59.2% during the fourth quarter. Park Avenue Securities LLC now owns 13,004 shares of the company’s stock worth $1,848,000 after purchasing an additional 4,836 shares during the last quarter. Retirement Systems of Alabama lifted its stake in TKO Group by 11.0% during the third quarter. Retirement Systems of Alabama now owns 80,707 shares of the company’s stock worth $9,984,000 after purchasing an additional 8,006 shares during the last quarter. HighTower Advisors LLC lifted its stake in TKO Group by 177.2% during the third 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 last quarter. Petrus Trust Company LTA bought a new stake in TKO Group during the third quarter worth about $597,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in TKO Group by 29.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock worth $210,892,000 after purchasing an additional 383,869 shares during the last quarter. Institutional investors own 89.79% of the company’s stock.

TKO Group Stock Up 0.6 %

TKO stock opened at $175.60 on Tuesday. TKO Group Holdings, Inc. has a fifty-two week low of $78.69 and a fifty-two week high of $179.09. The business’s 50 day moving average price is $150.34 and its two-hundred day moving average price is $132.42. 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 company has a market capitalization of $29.99 billion, a price-to-earnings ratio of -418.09 and a beta of 1.06.

Insiders Place Their Bets

In other news, major shareholder Patrick Whitesell bought 156,446 shares of TKO Group stock in a transaction on Tuesday, February 11th. The shares were purchased at an average price of $175.60 per share, for a total transaction of $27,471,917.60. Following the acquisition, the insider now owns 2,461,668 shares of the company’s stock, valued at approximately $432,268,900.80. The trade was a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ariel Emanuel bought 117,769 shares of TKO Group stock in a transaction on Wednesday, February 12th. The shares were purchased at an average price of $175.40 per share, for a total transaction of $20,656,682.60. Following the acquisition, the chief executive officer now directly owns 2,579,437 shares in the company, valued at approximately $452,433,249.80. This trade represents a 4.78 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,498,297 shares of company stock worth $387,671,461 and have sold 71,457 shares worth $10,153,456. Company insiders own 53.80% of the company’s stock.

Wall Street Analyst Weigh In

TKO has been the topic of several analyst reports. Pivotal Research lifted their price objective on TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Citigroup lifted their price objective on TKO Group from $137.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. UBS Group lifted their price objective on TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their price objective on TKO Group from $142.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and an average price target of $148.08.

TKO Group 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.