Cinctive Capital Management LP Sells 12,005 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Cinctive Capital Management LP decreased its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 65.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,208 shares of the company's stock after selling 12,005 shares during the period. Cinctive Capital Management LP's holdings in TKO Group were worth $768,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TKO. Massachusetts Financial Services Co. MA raised its stake in TKO Group by 267.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company's stock worth $142,640,000 after buying an additional 961,880 shares during the period. Ninety One UK Ltd raised its stake in shares of TKO Group by 15.9% in the second quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company's stock worth $439,004,000 after purchasing an additional 557,444 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of TKO Group by 59.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company's stock worth $119,940,000 after purchasing an additional 362,460 shares during the last quarter. American Century Companies Inc. increased its position in shares of TKO Group by 1,439.7% during the second quarter. American Century Companies Inc. now owns 307,405 shares of the company's stock valued at $33,197,000 after acquiring an additional 287,440 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of 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 during the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark S. Shapiro sold 31,026 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the completion of the sale, the insider now directly owns 42,156 shares of the company's stock, valued at $4,837,822.56. This represents a 42.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 53.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on TKO Group from $132.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Roth Mkm raised their price objective on TKO Group from $146.00 to $148.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. UBS Group upped their price target on shares of TKO Group from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Benchmark cut shares of TKO Group from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Finally, Pivotal Research raised their target price on TKO Group from $145.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.43.

TKO Group Stock Up 0.8 %

NYSE:TKO traded up $1.04 on Wednesday, reaching $138.08. 998,929 shares of the stock traded hands, compared to its average volume of 1,045,207. The company's fifty day simple moving average is $125.43 and its 200 day simple moving average is $116.49. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of -330.69 and a beta of 1.09. TKO Group Holdings, Inc. has a 12 month low of $72.33 and a 12 month high of $139.45.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.28). The company had revenue of $681.20 million for the quarter, compared to analysts' expectations of $665.12 million. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The business's revenue was up 51.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Equities analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

About TKO Group

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.