Principal Financial Group Inc. Lowers Stock Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Principal Financial Group Inc. decreased its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,083,786 shares of the company's stock after selling 162,552 shares during the quarter. Principal Financial Group Inc. owned approximately 0.63% of TKO Group worth $154,018,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ninety One UK Ltd lifted its stake in shares of TKO Group by 4.1% during the 4th quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company's stock valued at $589,985,000 after buying an additional 163,980 shares in the last quarter. State Street Corp lifted its stake in shares of TKO Group by 10.4% during the 3rd quarter. State Street Corp now owns 2,052,916 shares of the company's stock valued at $253,966,000 after buying an additional 192,602 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of 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. Geode Capital Management LLC lifted its stake in shares of TKO Group by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,241,918 shares of the company's stock valued at $153,931,000 after buying an additional 85,160 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of TKO Group by 59.7% during 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 in 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 research analysts recently weighed in on the stock. Seaport Res Ptn cut shares of TKO Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Pivotal Research lifted their price target on shares of TKO Group from $145.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. The Goldman Sachs Group lifted their price target on shares of TKO Group from $142.00 to $165.00 and gave the company a "buy" rating in a report on Friday, January 24th. TD Cowen lifted their price target on shares of TKO Group from $140.00 to $143.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Finally, Benchmark downgraded shares of TKO Group from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $148.08.

TKO Group Price Performance

Shares of TKO Group stock traded down $5.09 during trading hours on Friday, reaching $158.73. The company's stock had a trading volume of 1,714,360 shares, compared to its average volume of 1,093,437. The firm has a 50 day moving average price of $152.20 and a 200-day moving average price of $133.68. TKO Group Holdings, Inc. has a one year low of $78.69 and a one year high of $179.09. 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 stock has a market cap of $27.11 billion, a P/E ratio of -377.92 and a beta of 1.06.

Insider Activity at TKO Group

In other news, major shareholder Patrick Whitesell purchased 31,352 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $142.03 per share, for a total transaction of $4,452,924.56. Following the acquisition, the insider now owns 1,674,322 shares of the company's stock, valued at approximately $237,803,953.66. This trade represents a 1.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew M. Schleimer sold 5,419 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $141.94, for a total transaction of $769,172.86. Following the transaction, the chief financial officer now owns 6,995 shares in the company, valued at $992,870.30. The trade was a 43.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 2,498,297 shares of company stock worth $387,671,461 and have sold 71,457 shares worth $10,153,456. 53.80% of the stock is currently owned by insiders.

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.