Fmr LLC Sells 354,944 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

FMR LLC cut its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,444,664 shares of the company's stock after selling 354,944 shares during the period. FMR LLC owned 2.02% of TKO Group worth $426,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TKO. Blue Trust Inc. lifted its stake 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 buying an additional 89 shares during the period. First Horizon Advisors Inc. increased its stake in shares of TKO Group by 491.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 278 shares of the company's stock valued at $34,000 after acquiring an additional 231 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of TKO Group in the 2nd quarter valued at approximately $36,000. Signaturefd LLC grew its holdings in TKO Group by 39.4% during the third quarter. Signaturefd LLC now owns 386 shares of the company's stock valued at $48,000 after purchasing an additional 109 shares during the period. Finally, Quarry LP bought a new stake in TKO Group in the second quarter valued at approximately $51,000. Institutional investors own 89.79% of the company's stock.

Insider Activity

In related news, insider Mark S. Shapiro sold 31,026 shares of the business'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 approximately $4,837,822.56. The trade was a 42.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 53.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Roth Mkm boosted their price target 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 boosted 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. Bank of America assumed coverage on TKO Group in a research report on Tuesday, August 20th. They set a "buy" rating and a $140.00 price target on the stock. Morgan Stanley boosted their price objective on TKO Group from $115.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Finally, Pivotal Research raised their target price on shares of TKO Group from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.43.

TKO Group Stock Down 0.2 %

NYSE:TKO traded down $0.25 on Friday, hitting $137.96. 311,708 shares of the company's stock were exchanged, compared to its average volume of 968,544. The firm has a 50-day moving average price of $124.86 and a 200-day moving average price of $115.88. TKO Group Holdings, Inc. has a 52 week low of $72.33 and a 52 week high of $139.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $23.56 billion, a P/E ratio of -328.48 and a beta of 1.06.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate 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 company had revenue of $681.20 million for the quarter, compared to analyst estimates of $665.12 million. During the same period last year, the company posted $0.52 earnings per share. The business's revenue for the quarter was up 51.7% on a year-over-year basis. As a group, analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

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.