Louisiana State Employees Retirement System Sells 500 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Louisiana State Employees Retirement System trimmed its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,700 shares of the company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in TKO Group were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in TKO Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 6,074,522 shares of the company’s stock valued at $524,899,000 after purchasing an additional 79,166 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of TKO Group by 15.9% during the 2nd quarter. Ninety One UK Ltd now owns 4,065,230 shares of the company’s stock valued at $439,004,000 after buying an additional 557,444 shares in the last quarter. Darlington Partners Capital Management LP grew its stake in TKO Group by 17.9% in the 4th quarter. Darlington Partners Capital Management LP now owns 2,120,406 shares of the company’s stock valued at $172,983,000 after buying an additional 322,126 shares in the last quarter. XN LP grew its stake in TKO Group by 100.9% in the 1st quarter. XN LP now owns 1,983,346 shares of the company’s stock valued at $171,381,000 after buying an additional 996,161 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of TKO Group by 17.8% during the first quarter. Clearbridge Investments LLC now owns 1,644,844 shares of the company’s stock worth $142,131,000 after acquiring an additional 247,987 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Nick Khan sold 22,693 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $105.53, for a total transaction of $2,394,792.29. Following the transaction, the director now directly owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 53.80% of the company’s stock.

Wall Street Analyst Weigh In

TKO has been the topic of several recent research reports. Redburn Atlantic initiated coverage on TKO Group in a research report on Thursday, July 18th. They set a “buy” rating and a $129.00 target price on the stock. Roth Mkm increased their target price on TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Bank of America initiated coverage on TKO Group in a research report on Tuesday. They set a “buy” rating and a $140.00 target price on the stock. Finally, TD Cowen increased their target price on TKO Group from $127.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, TKO Group currently has a consensus rating of “Moderate Buy” and an average target price of $121.93.

TKO Group Stock Performance

NYSE TKO opened at $118.02 on Friday. The stock’s 50-day simple moving average is $110.15 and its two-hundred day simple moving average is $99.47. TKO Group Holdings, Inc. has a twelve month low of $72.33 and a twelve month high of $120.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.10). TKO Group had a negative net margin of 3.14% and a positive return on equity of 3.10%. The firm had revenue of $851.20 million for the quarter, compared to analysts’ expectations of $771.54 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 178.9% on a year-over-year basis. As a group, equities research analysts predict that TKO Group Holdings, Inc. will post 4.17 earnings per share for the current year.

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.