Driehaus Capital Management LLC Purchases 7,290 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Driehaus Capital Management LLC increased its stake in TKO Group Holdings by 5.3%, holding 144,732 shares valued at approximately $22.1 million.
• Institutional investors, including Vanguard Group and Invesco, have significantly increased their holdings in TKO Group, with Vanguard raising its position by 19.4% and Invesco by 569.7% in the first quarter.
• TKO Group reported $1.31 billion in revenue for the last quarter, surpassing expectations, and its earnings per share were $1.17, slightly below the consensus estimate of $1.23.

Driehaus Capital Management LLC boosted its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 144,732 shares of the company's stock after purchasing an additional 7,290 shares during the period. Driehaus Capital Management LLC owned about 0.08% of TKO Group worth $22,116,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TKO. Sentry Investment Management LLC acquired a new stake in TKO Group in the 1st quarter valued at about $25,000. Hemington Wealth Management lifted its stake in TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company's stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in TKO Group in the 1st quarter valued at about $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in TKO Group in the 1st quarter valued at about $27,000. Finally, Farther Finance Advisors LLC lifted its stake in TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after purchasing an additional 122 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TKO Group

In other news, Director Nick Khan sold 45,168 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the transaction, the director directly owned 156,494 shares of the company's stock, valued at approximately $26,732,305.08. This trade represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the acquisition, the director directly owned 2,747 shares of the company's stock, valued at approximately $465,863.73. This trade represents a 55.46% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 64,206 shares of company stock worth $10,993,180 over the last ninety days. Insiders own 53.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Roth Capital raised their target price on shares of TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Northcoast Research downgraded shares of TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Citigroup raised their price objective on shares of TKO Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Bank of America raised their price objective on shares of TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $189.69.

TKO Group Stock Performance

Shares of TKO traded up $1.19 during mid-day trading on Wednesday, hitting $186.54. 431,495 shares of the company's stock were exchanged, compared to its average volume of 1,248,753. TKO Group Holdings, Inc. has a 52 week low of $113.16 and a 52 week high of $194.76. The stock's 50-day simple moving average is $175.98 and its 200-day simple moving average is $163.49. The firm has a market cap of $36.99 billion, a price-to-earnings ratio of 77.08 and a beta of 0.79. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm's revenue for the quarter was up 53.7% compared to the same quarter last year. On average, equities research analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

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.