Principal Financial Group Inc. Has $89.33 Million Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Principal Financial Group Inc. lifted its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,094,995 shares of the company's stock after purchasing an additional 32,264 shares during the period. Principal Financial Group Inc. owned about 0.63% of TKO Group worth $89,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its position in shares of TKO Group by 8.7% during the fourth quarter. Picton Mahoney Asset Management now owns 1,870 shares of the company's stock worth $152,000 after acquiring an additional 150 shares during the last quarter. Covestor Ltd bought a new position in shares of TKO Group during the third quarter worth $27,000. Fifth Third Bancorp bought a new position in shares of TKO Group during the third quarter worth $27,000. International Assets Investment Management LLC bought a new position in shares of TKO Group during the fourth quarter worth $27,000. Finally, Quent Capital LLC boosted its position in shares of TKO Group by 113.7% during the fourth quarter. Quent Capital LLC now owns 673 shares of the company's stock worth $55,000 after acquiring an additional 358 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TKO. Bank of America initiated coverage on shares of TKO Group in a research report on Friday, March 15th. They set a "buy" rating and a $100.00 target price for the company. Roth Mkm increased their price objective on shares of TKO Group from $112.00 to $121.00 and gave the company a "buy" rating in a research report on Thursday, May 9th. Jefferies Financial Group increased their price objective on shares of TKO Group from $120.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, April 12th. Northcoast Research initiated coverage on shares of TKO Group in a research report on Tuesday, February 6th. They set a "buy" rating and a $105.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of TKO Group in a research report on Thursday, March 7th. They set a "buy" rating and a $102.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.00.

TKO Group Trading Up 2.9 %

TKO stock traded up $2.85 during trading on Tuesday, hitting $102.24. The company had a trading volume of 1,026,864 shares, compared to its average volume of 1,330,656. The firm has a market capitalization of $17.58 billion, a P/E ratio of -98.41 and a beta of 1.03. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. TKO Group Holdings, Inc. has a 52-week low of $72.33 and a 52-week high of $106.16. The company has a 50 day simple moving average of $91.10 and a 200-day simple moving average of $84.60.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.59). TKO Group had a negative net margin of 4.14% and a positive return on equity of 4.15%. The company had revenue of $614.00 million for the quarter, compared to the consensus estimate of $619.48 million. As a group, research analysts forecast that TKO Group Holdings, Inc. will post 3.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Vincent K. Mcmahon sold 1,642,970 shares of the firm's stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $89.01, for a total transaction of $146,240,759.70. Following the transaction, the insider now owns 9,875,129 shares in the company, valued at $878,985,232.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.