Zurcher Kantonalbank Zurich Cantonalbank Reduces Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 23.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,381 shares of the company's stock after selling 5,113 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TKO Group were worth $2,026,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of TKO Group by 52.4% in the 3rd quarter. Blue Trust Inc. now owns 259 shares of the company's stock valued at $32,000 after buying an additional 89 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of TKO Group by 17.4% in the 3rd quarter. Quent Capital LLC now owns 680 shares of the company's stock valued at $84,000 after buying an additional 101 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of TKO Group by 39.4% in the 3rd quarter. Signaturefd LLC now owns 386 shares of the company's stock valued at $48,000 after buying an additional 109 shares in the last quarter. Moran Wealth Management LLC raised its position in TKO Group by 0.7% in the 3rd quarter. Moran Wealth Management LLC now owns 19,112 shares of the company's stock valued at $2,364,000 after purchasing an additional 135 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in TKO Group by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,971 shares of the company's stock valued at $491,000 after purchasing an additional 139 shares during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Mark S. Shapiro sold 31,026 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 42,156 shares in the company, valued at approximately $4,837,822.56. This trade represents a 42.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 53.80% of the stock is owned by corporate insiders.

TKO Group Price Performance

NYSE TKO traded up $0.81 during trading hours on Wednesday, reaching $137.85. The company's stock had a trading volume of 716,802 shares, compared to its average volume of 1,043,816. The stock has a market cap of $23.54 billion, a PE ratio of -330.69 and a beta of 1.09. TKO Group Holdings, Inc. has a fifty-two week low of $72.33 and a fifty-two week high of $139.45. The company's 50-day moving average is $125.43 and its two-hundred day moving average is $116.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17.

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

Analyst Upgrades and Downgrades

TKO has been the subject of several research reports. Pivotal Research upped their price target on shares of TKO Group from $145.00 to $165.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Bank of America initiated coverage on shares of TKO Group in a research report on Tuesday, August 20th. They issued a "buy" rating and a $140.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of TKO Group from $132.00 to $137.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Guggenheim upped their price objective on shares of TKO Group from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, TD Cowen upped their price objective on shares of TKO Group from $140.00 to $143.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.43.

TKO Group Company 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.