Gabelli Funds LLC Sells 2,450 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Gabelli Funds LLC reduced its position in TKO Group Holdings by 3.4%, now owning 68,696 shares valued at approximately $10.5 million.
• Wall Street analysts maintain a generally positive outlook on TKO Group, with several raising price targets, leading to a consensus rating of "Moderate Buy" and an average target price of $189.69.
• The company recently reported quarterly earnings of $1.17 per share, falling short of expectations despite a year-over-year revenue increase of 53.7%.

Gabelli Funds LLC trimmed its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,696 shares of the company's stock after selling 2,450 shares during the quarter. Gabelli Funds LLC's holdings in TKO Group were worth $10,497,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TKO. Hemington Wealth Management raised its stake in shares of TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company's stock worth $25,000 after purchasing an additional 136 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of TKO Group in the first quarter worth $26,000. Sentry Investment Management LLC purchased a new position in shares of TKO Group in the first quarter worth $25,000. Bartlett & CO. Wealth Management LLC purchased a new position in shares of TKO Group in the first quarter worth $27,000. Finally, Farther Finance Advisors LLC raised its stake in shares of TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after purchasing an additional 122 shares during the last quarter. 89.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TKO shares. Roth Capital boosted their price target on TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. upped their price objective on TKO Group from $182.00 to $212.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Citigroup upped their price objective on TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Bank of America upped their price objective on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Morgan Stanley reiterated an "outperform" rating on shares of TKO Group in a research report on Sunday, August 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $189.69.

TKO Group Stock Performance

NYSE:TKO traded down $0.60 during mid-day trading on Monday, hitting $189.54. 559,071 shares of the company traded hands, compared to its average volume of 1,062,213. The stock's fifty day moving average price is $175.52 and its 200-day moving average price is $163.23. TKO Group Holdings, Inc. has a one year low of $113.16 and a one year high of $194.76. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm has a market cap of $37.59 billion, a price-to-earnings ratio of 78.32 and a beta of 0.78.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company 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 firm posted $0.72 EPS. The business's revenue for the quarter was up 53.7% on a year-over-year basis. Research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

Insider Transactions at TKO Group

In other news, Director Nick Khan sold 45,168 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76. Following the completion of the transaction, the director owned 156,494 shares of the company's stock, valued at $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter C. B. Bynoe acquired 980 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $169.59 per share, with a total value of $166,198.20. Following the purchase, the director owned 2,747 shares of the company's stock, valued at approximately $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 64,206 shares of company stock valued at $10,993,180 over the last 90 days. Company insiders own 53.80% of the company's stock.

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.