Norges Bank Buys Shares of 720,584 TKO Group Holdings, Inc. $TKO

Norges Bank bought a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 720,584 shares of the company’s stock, valued at approximately $150,602,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in TKO Group during the 4th quarter valued at $27,000. Torren Management LLC bought a new stake in TKO Group during the 4th quarter valued at $32,000. Aventura Private Wealth LLC bought a new stake in TKO Group during the 4th quarter valued at $35,000. Clearstead Advisors LLC raised its holdings in TKO Group by 234.0% during the 4th quarter. Clearstead Advisors LLC now owns 177 shares of the company’s stock valued at $37,000 after acquiring an additional 124 shares during the period. Finally, Atlantic Union Bankshares Corp grew its position in shares of TKO Group by 1,680.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 178 shares of the company’s stock valued at $36,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 89.79% of the company’s stock.

Insider Buying and Selling

In related news, CFO Andrew M. Schleimer bought 2,696 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $185.44 per share, for a total transaction of $499,946.24. Following the completion of the transaction, the chief financial officer owned 30,240 shares of the company’s stock, valued at approximately $5,607,705.60. The trade was a 9.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Shane Kapral sold 254 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $199.15, for a total transaction of $50,584.10. Following the completion of the transaction, the chief financial officer owned 99 shares of the company’s stock, valued at $19,715.85. This trade represents a 71.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders bought 24,308 shares of company stock valued at $4,499,679 and sold 19,290 shares valued at $3,711,017. 64.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TKO. Roth Mkm set a $228.00 price target on shares of TKO Group in a research report on Monday, May 4th. Pivotal Research boosted their price target on shares of TKO Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. TD Cowen boosted their price target on shares of TKO Group from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Sanford C. Bernstein reduced their price target on shares of TKO Group from $250.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Finally, UBS Group boosted their price target on shares of TKO Group from $235.00 to $238.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TKO Group currently has a consensus rating of “Moderate Buy” and an average price target of $233.73.

TKO Group Stock Down 2.8%

TKO opened at $198.90 on Thursday. TKO Group Holdings, Inc. has a one year low of $152.29 and a one year high of $226.94. The company has a fifty day moving average price of $192.32 and a 200-day moving average price of $199.76. The firm has a market capitalization of $38.61 billion, a P/E ratio of 74.22 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities research analysts expect that TKO Group Holdings, Inc. will post 4.96 earnings per share for the current fiscal year.

About TKO Group

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.