Comerica Bank Has $3.12 Million Stock Holdings in TKO Group Holdings, Inc. $TKO

Key Points

• Comerica Bank has reduced its stake in TKO Group Holdings by 26.7%, selling 7,447 shares, leaving them with 20,440 shares valued at approximately $3.1 million.
• Several large investors significantly increased their holdings in TKO Group, with Vanguard Group increasing its stake by 19.4% and Invesco Ltd expanding by 569.7% during the first quarter.
• TKO Group reported earnings of $1.17 per share for the last quarter, below the consensus estimate of $1.23, but revenue increased by 53.7% compared to the previous year.

Comerica Bank lowered its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 26.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,440 shares of the company's stock after selling 7,447 shares during the quarter. Comerica Bank's holdings in TKO Group were worth $3,123,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in TKO Group during the first quarter valued at about $1,163,000. Friedenthal Financial purchased a new stake in shares of TKO Group during the 1st quarter worth about $895,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of TKO Group during the 1st quarter worth about $464,000. Moore Capital Management LP raised its stake in shares of TKO Group by 1,625.0% during the 4th quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock worth $59,443,000 after purchasing an additional 394,038 shares in the last quarter. Finally, Ninety One SA PTY Ltd raised its stake in shares of TKO Group by 3.4% in the 1st quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company's stock valued at $10,902,000 after acquiring an additional 2,330 shares in the last quarter. Institutional investors own 89.79% of the company's stock.

TKO Group Price Performance

TKO stock traded up $1.19 during trading on Wednesday, hitting $186.54. The company had a trading volume of 685,562 shares, compared to its average volume of 1,250,672. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The company has a market cap of $36.99 billion, a P/E ratio of 77.08 and a beta of 0.79. The company has a fifty day moving average price of $175.98 and a two-hundred day moving average price of $163.49. TKO Group Holdings, Inc. has a fifty-two week low of $113.16 and a fifty-two week high of $194.76.

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

Insiders Place Their Bets

In other news, Director Nick Khan sold 45,168 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. B. Bynoe purchased 980 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the purchase, the director directly owned 2,747 shares of the company's stock, valued at $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. In the last three months, insiders sold 64,206 shares of company stock worth $10,993,180. Insiders own 53.80% of the company's stock.

Analyst Upgrades and Downgrades

TKO has been the topic of a number of recent analyst reports. Citigroup raised their price objective on TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Morgan Stanley reissued an "outperform" rating on shares of TKO Group in a research note on Sunday, August 10th. Bank of America raised their price objective on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Roth Capital raised their price objective on TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group raised their price objective on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $189.69.

About TKO Group

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.