Lazard Asset Management LLC Lowers Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Lazard Asset Management LLC cut its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 97.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 518 shares of the company's stock after selling 24,529 shares during the quarter. Lazard Asset Management LLC's holdings in TKO Group were worth $73,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in TKO Group by 72.8% in the fourth quarter. UMB Bank n.a. now owns 273 shares of the company's stock worth $39,000 after purchasing an additional 115 shares during the period. SG Americas Securities LLC grew its holdings in TKO Group by 202.1% in the fourth quarter. SG Americas Securities LLC now owns 3,668 shares of the company's stock worth $521,000 after purchasing an additional 2,454 shares during the period. Janney Montgomery Scott LLC grew its holdings in TKO Group by 4.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,708 shares of the company's stock worth $1,380,000 after purchasing an additional 398 shares during the period. Exchange Traded Concepts LLC grew its holdings in TKO Group by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,478 shares of the company's stock worth $921,000 after purchasing an additional 160 shares during the period. Finally, Geneos Wealth Management Inc. acquired a new stake in TKO Group in the fourth quarter worth $32,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Price Performance

Shares of TKO Group stock traded down $0.06 on Wednesday, hitting $158.89. 584,872 shares of the company traded hands, compared to its average volume of 1,113,505. The stock has a market capitalization of $27.20 billion, a P/E ratio of -378.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. TKO Group Holdings, Inc. has a 52 week low of $100.76 and a 52 week high of $179.09. The business has a 50-day simple moving average of $155.07 and a 200 day simple moving average of $149.52.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the business posted ($1.26) earnings per share. TKO Group's quarterly revenue was up 3.8% on a year-over-year basis. Research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TKO. JPMorgan Chase & Co. lifted their price objective on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Pivotal Research reiterated a "buy" rating and set a $195.00 price objective (up from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Morgan Stanley raised their price target on shares of TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. Seaport Res Ptn raised shares of TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Susquehanna initiated coverage on shares of TKO Group in a research report on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.25.

Insider Buying and Selling

In other news, Director Sonya E. Medina acquired 233 shares of the company's stock in a transaction on Monday, March 17th. The stock was bought at an average cost of $142.93 per share, with a total value of $33,302.69. Following the completion of the purchase, the director now directly owns 2,000 shares of the company's stock, valued at $285,860. This represents a 13.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Kraft acquired 3,500 shares of the company's stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $140.69 per share, with a total value of $492,415.00. Following the completion of the purchase, the director now directly owns 23,500 shares of the company's stock, valued at $3,306,215. This trade represents a 17.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 23,733 shares of company stock worth $3,561,318. Insiders own 61.30% of the company's stock.

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.