Victory Capital Management Inc. Purchases 487,796 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Victory Capital Management Inc. grew its position in TKO Group Holdings, Inc. (NYSE:TKO) by 386.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 613,917 shares of the company’s stock after purchasing an additional 487,796 shares during the period. Victory Capital Management Inc.’s holdings in TKO Group were worth $50,083,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new stake in TKO Group in the 3rd quarter valued at approximately $619,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of TKO Group in the third quarter worth $263,000. Xponance Inc. acquired a new position in TKO Group during the third quarter worth $889,000. Maryland State Retirement & Pension System acquired a new position in TKO Group during the third quarter worth $286,000. Finally, Bank of New York Mellon Corp bought a new position in TKO Group in the third quarter valued at $44,709,000. 89.79% of the stock is owned by institutional investors and hedge funds.

TKO Group Trading Up 3.1 %

TKO stock opened at $98.32 on Friday. TKO Group Holdings, Inc. has a one year low of $72.33 and a one year high of $106.16. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 144.59 and a beta of 1.03. The company has a fifty day moving average price of $89.26 and a two-hundred day moving average price of $83.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04.

TKO Group (NYSE:TKO) last posted its earnings results on Tuesday, February 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.59). TKO Group had a return on equity of 3.11% and a net margin of 3.02%. The company had revenue of $614.00 million for the quarter, compared to analyst estimates of $619.48 million. Equities analysts anticipate that TKO Group Holdings, Inc. will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Vincent K. Mcmahon sold 1,642,970 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $89.01, for a total value of $146,240,759.70. Following the transaction, the insider now owns 9,875,129 shares of the company’s stock, valued at $878,985,232.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 38.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TKO. Jefferies Financial Group increased their price objective on shares of TKO Group from $120.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. TD Cowen started coverage on TKO Group in a research note on Friday, January 12th. They issued a “market perform” rating and a $92.00 price target for the company. Moffett Nathanson assumed coverage on TKO Group in a research note on Monday, January 29th. They set a “neutral” rating and a $95.00 price objective on the stock. Morgan Stanley assumed coverage on TKO Group in a report on Wednesday, February 14th. They issued an “equal weight” rating and a $95.00 price objective for the company. Finally, Citigroup boosted their target price on shares of TKO Group from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, TKO Group currently has a consensus rating of “Moderate Buy” and an average price target of $108.31.

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.