Bridgewater Associates LP Has $2.44 Million Position in TKO Group Holdings, Inc. (NYSE:TKO)

Bridgewater Associates LP lifted its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 874.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,691 shares of the company’s stock after acquiring an additional 17,671 shares during the quarter. Bridgewater Associates LP’s holdings in TKO Group were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TKO. Blue Trust Inc. grew its stake in TKO Group by 52.4% in the third quarter. Blue Trust Inc. now owns 259 shares of the company’s stock valued at $32,000 after purchasing an additional 89 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of TKO Group by 491.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock valued at $34,000 after buying an additional 231 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of TKO Group in the 2nd quarter valued at approximately $36,000. Signaturefd LLC increased its holdings in TKO Group by 39.4% in the third quarter. Signaturefd LLC now owns 386 shares of the company’s stock worth $48,000 after buying an additional 109 shares during the last quarter. Finally, Quarry LP bought a new position in TKO Group during the second quarter valued at approximately $51,000. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

TKO Group Stock Performance

Shares of NYSE TKO opened at $137.96 on Friday. TKO Group Holdings, Inc. has a 12 month low of $72.33 and a 12 month high of $139.45. The company has a market cap of $23.56 billion, a P/E ratio of -328.48 and a beta of 1.06. The business’s 50 day moving average is $124.86 and its two-hundred day moving average is $115.88. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO) last announced its 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). TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company had revenue of $681.20 million for the quarter, compared to the consensus estimate of $665.12 million. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was up 51.7% compared to the same quarter last year. On average, equities analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

Analysts Set New Price Targets

TKO has been the subject of several recent research reports. Benchmark downgraded shares of TKO Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. 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 report on Thursday, November 7th. Pivotal Research raised their target price on TKO Group from $145.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group boosted their price target on TKO Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Guggenheim increased their price objective on TKO Group from $135.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, TKO Group has an average rating of “Moderate Buy” and a consensus target price of $132.43.

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.