NINE MASTS CAPITAL Ltd Takes Position in TKO Group Holdings, Inc. (NYSE:TKO)

NINE MASTS CAPITAL Ltd bought a new position in TKO Group Holdings, Inc. (NYSE:TKO) during the second quarter, HoldingsChannel reports. The fund bought 14,500 shares of the company’s stock, valued at approximately $1,566,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TKO. Envestnet Portfolio Solutions Inc. grew its stake in shares of TKO Group by 10.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,156 shares of the company’s stock valued at $341,000 after acquiring an additional 286 shares during the period. State of Michigan Retirement System raised its position in shares of TKO Group by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 14,710 shares of the company’s stock valued at $1,271,000 after purchasing an additional 300 shares during the period. Commerce Bank lifted its stake in shares of TKO Group by 5.0% during the 4th quarter. Commerce Bank now owns 6,973 shares of the company’s stock valued at $569,000 after buying an additional 332 shares in the last quarter. MFA Wealth Advisors LLC bought a new position in TKO Group in the 2nd quarter worth $36,000. Finally, GAMMA Investing LLC increased its stake in TKO Group by 388.6% in the 2nd quarter. GAMMA Investing LLC now owns 513 shares of the company’s stock worth $55,000 after buying an additional 408 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

TKO Group Price Performance

TKO opened at $113.67 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $112.88 and a 200 day moving average of $102.53. TKO Group Holdings, Inc. has a 52-week low of $72.33 and a 52-week high of $120.70. The stock has a market cap of $19.36 billion, a P/E ratio of -112.54 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TKO. Redburn Atlantic began coverage on TKO Group in a research note on Thursday, July 18th. They set a “buy” rating and a $129.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of TKO Group from $126.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Roth Mkm boosted their price target on shares of TKO Group from $121.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. TD Cowen lifted their target price on TKO Group from $127.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley lifted their price objective on TKO Group from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.93.

Insider Buying and Selling

In other news, Director Nick Khan sold 22,693 shares of the stock in a transaction on 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 owns 220,018 shares of the company’s stock, valued at approximately $23,218,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 53.80% of the stock is owned by 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.