Centric Wealth Management Buys New Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Centric Wealth Management acquired a new stake in TKO Group Holdings, Inc. (NYSE:TKO) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 1,789 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in TKO Group by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,864 shares of the company’s stock valued at $24,601,000 after acquiring an additional 6,770 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of TKO Group by 10.0% during the 3rd quarter. MetLife Investment Management LLC now owns 35,048 shares of the company’s stock worth $4,336,000 after acquiring an additional 3,172 shares during the period. Bridgewater Associates LP lifted its holdings in shares of TKO Group by 874.8% during the 3rd quarter. Bridgewater Associates LP now owns 19,691 shares of the company’s stock worth $2,436,000 after acquiring an additional 17,671 shares during the period. The Manufacturers Life Insurance Company grew its holdings in TKO Group by 5.3% in the third quarter. The Manufacturers Life Insurance Company now owns 57,555 shares of the company’s stock valued at $7,120,000 after purchasing an additional 2,902 shares during the period. Finally, Draper Asset Management LLC purchased a new position in TKO Group during the third quarter worth approximately $296,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Stock Performance

TKO opened at $138.21 on Friday. TKO Group Holdings, Inc. has a twelve month low of $72.33 and a twelve month high of $139.45. The business’s 50 day moving average is $124.27 and its 200-day moving average is $115.45. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). The business had revenue of $681.20 million for the quarter, compared to analyst estimates of $665.12 million. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company’s revenue was up 51.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. Equities research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

Insider Activity

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares in the company, valued at approximately $4,837,822.56. This represents a 42.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 53.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TKO. The Goldman Sachs Group upped their price objective on TKO Group from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Roth Mkm lifted their price target on shares of TKO Group from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America started coverage on shares of TKO Group in a research report on Tuesday, August 20th. They set a “buy” rating and a $140.00 price target for the company. TD Cowen boosted their price objective on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Pivotal Research boosted their price target on TKO Group from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.43.

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.