Fortis Group Advisors LLC Sells 916 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Fortis Group Advisors LLC trimmed its position in TKO Group Holdings, Inc. (NYSE:TKO) by 17.9% in the third quarter, Holdings Channel reports. The fund owned 4,215 shares of the company’s stock after selling 916 shares during the quarter. Fortis Group Advisors LLC’s holdings in TKO Group were worth $521,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TKO. Blue Trust Inc. raised its position in TKO Group by 52.4% in the third quarter. Blue Trust Inc. now owns 259 shares of the company’s stock valued at $32,000 after purchasing an additional 89 shares during the last quarter. Quent Capital LLC increased its stake in shares of TKO Group by 17.4% in the third quarter. Quent Capital LLC now owns 680 shares of the company’s stock valued at $84,000 after buying an additional 101 shares during the period. Bank of Montreal Can raised its holdings in TKO Group by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 6,652 shares of the company’s stock valued at $719,000 after buying an additional 184 shares during the last quarter. Truist Financial Corp boosted its position in TKO Group by 4.9% during the 2nd quarter. Truist Financial Corp now owns 5,278 shares of the company’s stock worth $570,000 after buying an additional 248 shares during the period. Finally, Sumitomo Life Insurance Co. grew its holdings in TKO Group by 2.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,351 shares of the company’s stock worth $1,157,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

TKO Group Trading Down 0.2 %

Shares of NYSE:TKO traded down $0.28 during mid-day trading on Tuesday, hitting $128.59. The company had a trading volume of 9,528 shares, compared to its average volume of 1,037,156. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. TKO Group Holdings, Inc. has a one year low of $72.33 and a one year high of $130.95. The firm has a fifty day moving average price of $121.11 and a 200 day moving average price of $110.55. The company has a market capitalization of $21.94 billion, a PE ratio of -134.21 and a beta of 1.04.

TKO Group (NYSE:TKO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.10). The company had revenue of $851.20 million during the quarter, compared to the consensus estimate of $771.54 million. TKO Group had a negative net margin of 3.14% and a positive return on equity of 3.10%. The company’s revenue for the quarter was up 178.9% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. As a group, research analysts forecast that TKO Group Holdings, Inc. will post 4.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark S. Shapiro sold 31,026 shares of the company’s 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 directly owns 42,156 shares of the company’s stock, valued at $4,837,822.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 53.80% of the company’s stock.

Wall Street Analyst Weigh In

TKO has been the subject of several analyst reports. Roth Mkm raised their price target on shares of TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Guggenheim raised their target price on TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Pivotal Research assumed coverage on TKO Group in a research report on Friday, September 13th. They issued a “buy” rating and a $170.00 price target on the stock. Bank of America initiated coverage on TKO Group in a research report on Tuesday, August 20th. They set a “buy” rating and a $140.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, TKO Group presently has a consensus rating of “Moderate Buy” and an average target price of $132.21.

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.