Parr Mcknight Wealth Management Group LLC Purchases New Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Parr Mcknight Wealth Management Group LLC acquired a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,572 shares of the company's stock, valued at approximately $1,360,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of TKO Group by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,289 shares of the company's stock valued at $66,691,000 after purchasing an additional 16,536 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in TKO Group by 21.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company's stock worth $2,836,000 after purchasing an additional 3,572 shares during the last quarter. Twin Tree Management LP grew its position in TKO Group by 147.0% during the 4th quarter. Twin Tree Management LP now owns 123,713 shares of the company's stock worth $17,581,000 after purchasing an additional 73,617 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of TKO Group in the 4th quarter worth $431,000. Finally, Moore Capital Management LP lifted its stake in shares of TKO Group by 1,625.0% in the 4th quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock worth $59,443,000 after acquiring an additional 394,038 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TKO. Guggenheim raised their price objective on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Pivotal Research reiterated a "buy" rating and set a $195.00 price target (up from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Susquehanna initiated coverage on shares of TKO Group in a report on Monday, April 28th. They issued a "positive" rating and a $180.00 target price for the company. Benchmark restated a "hold" rating on shares of TKO Group in a report on Monday, March 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $166.25.

TKO Group Trading Down 0.0%

TKO stock traded down $0.06 during midday trading on Wednesday, reaching $158.89. 584,851 shares of the company's stock traded hands, compared to its average volume of 1,113,505. The company 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 current ratio of 1.17 and a quick ratio of 1.17. TKO Group Holdings, Inc. has a fifty-two week low of $100.76 and a fifty-two week high of $179.09. The business has a 50-day moving average price of $155.07 and a two-hundred day moving average price 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, beating analysts' consensus estimates 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 firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the company posted ($1.26) earnings per share. TKO Group's revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

Insider Transactions at TKO Group

In other news, Director Jonathan Kraft bought 20,000 shares of TKO Group stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $151.78 per share, with a total value of $3,035,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $3,035,600. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sonya E. Medina purchased 233 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost of $142.93 per share, for a total transaction of $33,302.69. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Over the last three months, insiders have bought 23,733 shares of company stock valued at $3,561,318. Corporate insiders own 61.30% 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.