Retirement Systems of Alabama Cuts Position in TKO Group Holdings, Inc. (NYSE:TKO)

Retirement Systems of Alabama decreased its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 3.4% during the second quarter, HoldingsChannel reports. The firm owned 72,701 shares of the company’s stock after selling 2,526 shares during the period. Retirement Systems of Alabama’s holdings in TKO Group were worth $7,851,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of TKO Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 6,074,522 shares of the company’s stock valued at $524,899,000 after buying an additional 79,166 shares in the last quarter. Ninety One UK Ltd lifted its holdings in shares of TKO Group by 15.9% in the 2nd quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company’s stock worth $439,004,000 after acquiring an additional 557,444 shares during the last quarter. Darlington Partners Capital Management LP boosted its stake in shares of TKO Group by 17.9% in the 4th quarter. Darlington Partners Capital Management LP now owns 2,120,406 shares of the company’s stock valued at $172,983,000 after purchasing an additional 322,126 shares in the last quarter. XN LP grew its holdings in shares of TKO Group by 100.9% during the 1st quarter. XN LP now owns 1,983,346 shares of the company’s stock valued at $171,381,000 after purchasing an additional 996,161 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in TKO Group by 17.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,644,844 shares of the company’s stock worth $142,131,000 after purchasing an additional 247,987 shares during the period. Institutional investors own 89.79% of the company’s stock.

Insider Activity

In related news, Director Nick Khan sold 22,693 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $105.53, for a total value of $2,394,792.29. Following the sale, the director now directly owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 53.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. TD Cowen increased their target price on TKO Group from $127.00 to $140.00 and gave the company a “buy” rating in a report on Monday, August 12th. Morgan Stanley lifted their price target on TKO Group from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Bank of America began coverage on TKO Group in a research note on Tuesday, August 20th. They set a “buy” rating and a $140.00 price objective for the company. Finally, Redburn Atlantic began coverage on shares of TKO Group in a research note on Thursday, July 18th. They issued a “buy” rating and a $129.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, TKO Group has a consensus rating of “Moderate Buy” and an average target price of $121.93.

TKO Group Stock Up 0.2 %

Shares of NYSE TKO opened at $118.03 on Friday. The firm has a fifty day simple moving average of $110.41 and a two-hundred day simple moving average of $99.70. TKO Group Holdings, Inc. has a 12 month low of $72.33 and a 12 month high of $120.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $20.14 billion, a PE ratio of -116.86 and a beta of 1.04.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 3.10% and a negative net margin of 3.14%. TKO Group’s quarterly revenue was up 178.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. Equities analysts expect that TKO Group Holdings, Inc. will post 4.17 earnings per share for the current year.

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.