TKO Group Holdings, Inc. (NYSE:TKO) is Clearline Capital LP’s 2nd Largest Position

Clearline Capital LP cut its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 420,944 shares of the company’s stock after selling 136,683 shares during the period. TKO Group accounts for about 1.3% of Clearline Capital LP’s holdings, making the stock its 2nd biggest position. Clearline Capital LP owned 0.25% of TKO Group worth $45,458,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. American International Group Inc. grew its holdings in TKO Group by 10.1% in the fourth quarter. American International Group Inc. now owns 81,579 shares of the company’s stock valued at $6,655,000 after purchasing an additional 7,456 shares during the period. Vanguard Group Inc. boosted its holdings in shares of TKO Group by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 5,995,356 shares of the company’s stock valued at $489,101,000 after purchasing an additional 1,002,121 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of TKO Group during the 4th quarter valued at $5,111,000. Wells Fargo & Company MN increased its holdings in shares of TKO Group by 15.2% during the 4th quarter. Wells Fargo & Company MN now owns 148,677 shares of the company’s stock worth $12,129,000 after buying an additional 19,632 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of TKO Group by 23.8% in the 1st quarter. TD Asset Management Inc now owns 1,473,435 shares of the company’s stock worth $127,320,000 after buying an additional 283,731 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director Nick Khan sold 22,693 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the completion of the transaction, the director now directly owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Nick Khan sold 22,693 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the completion of the transaction, the director now owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction dated 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 owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. The disclosure for this sale can be found here. 53.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TKO has been the subject of a number of research reports. Morgan Stanley boosted their price target 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. JPMorgan Chase & Co. lifted their price objective on TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Roth Mkm lifted their target price on shares of TKO Group from $121.00 to $130.00 and gave the company a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $132.00 price target on shares of TKO Group in a report on Thursday, September 12th. Finally, UBS Group boosted their price objective on TKO Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.13.

TKO Group Stock Performance

TKO stock opened at $125.00 on Friday. The firm has a market cap of $21.33 billion, a P/E ratio of -123.76 and a beta of 1.04. The stock’s 50 day simple moving average is $115.80 and its 200 day simple moving average is $105.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.34. TKO Group Holdings, Inc. has a 12-month low of $72.33 and a 12-month high of $125.49.

TKO Group (NYSE:TKO) last posted 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). TKO Group had a positive return on equity of 3.10% and a negative net margin of 3.14%. The business had revenue of $851.20 million during the quarter, compared to the consensus estimate of $771.54 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 178.9% compared to the same quarter last year. As a group, equities research analysts predict that TKO Group Holdings, Inc. will post 4.17 EPS for the current 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.