MetLife Investment Management LLC Trims Position in TKO Group Holdings, Inc. $TKO

Key Points

• MetLife Investment Management LLC reduced its stake in TKO Group Holdings by 52.9% in the first quarter, leaving them with 17,983 shares valued at approximately $2.74 million.
• TKO Group reported $1.17 earnings per share for the last quarter, missing analysts’ expectations of $1.23, but showed a significant revenue increase of 53.7% year-over-year.
• Several analysts raised their target prices for TKO Group, with UBS Group and Bank of America increasing their targets to $200 and $210, respectively, indicating a positive outlook for the stock.

MetLife Investment Management LLC reduced its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 52.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,983 shares of the company's stock after selling 20,222 shares during the quarter. MetLife Investment Management LLC's holdings in TKO Group were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. SVB Wealth LLC bought a new position in shares of TKO Group in the first quarter worth approximately $51,000. 1832 Asset Management L.P. bought a new position in shares of TKO Group in the first quarter worth approximately $4,737,000. Norinchukin Bank The bought a new position in shares of TKO Group in the first quarter worth approximately $386,000. Atika Capital Management LLC bought a new position in shares of TKO Group in the first quarter worth approximately $4,783,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of TKO Group by 242.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock worth $228,675,000 after acquiring an additional 1,059,636 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of TKO Group in a research report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price for the company. Roth Capital upped their target price on shares of TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Guggenheim upped their target price on shares of TKO Group from $200.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. upped their target price 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 investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $189.69.

TKO Group Price Performance

TKO Group stock traded up $1.19 during mid-day trading on Wednesday, reaching $186.54. 685,562 shares of the company's stock traded hands, compared to its average volume of 1,250,672. The company has a market cap of $36.99 billion, a price-to-earnings ratio of 77.08 and a beta of 0.79. The stock has a 50 day moving average of $175.98 and a two-hundred day moving average of $163.49. 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 Holdings, Inc. has a 12-month low of $113.16 and a 12-month high of $194.76.

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 analysts' consensus estimates of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the company earned $0.72 EPS. TKO Group's revenue for the quarter was up 53.7% compared to the same quarter last year. Equities analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

Insider Activity

In other news, Director Peter C. B. Bynoe purchased 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 acquisition, the director owned 2,747 shares of the company's stock, valued at approximately $465,863.73. This represents a 55.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nick Khan sold 45,168 shares of the firm's stock in a transaction dated 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 completion of the sale, the director owned 156,494 shares in the company, valued at $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,206 shares of company stock worth $10,993,180. 53.80% of the stock is owned by company insiders.

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.