Draper Asset Management LLC Makes New Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Draper Asset Management LLC purchased a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,392 shares of the company’s stock, valued at approximately $296,000. TKO Group accounts for approximately 0.2% of Draper Asset Management LLC’s portfolio, making the stock its 16th largest position.

Several other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in TKO Group by 52.4% in the third quarter. Blue Trust Inc. now owns 259 shares of the company’s stock worth $32,000 after purchasing an additional 89 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of TKO Group by 491.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock worth $34,000 after buying an additional 231 shares during the period. MFA Wealth Advisors LLC bought a new position in shares of TKO Group in the 2nd quarter worth about $36,000. Signaturefd LLC lifted its position in TKO Group by 39.4% during the 3rd quarter. Signaturefd LLC now owns 386 shares of the company’s stock valued at $48,000 after acquiring an additional 109 shares during the period. Finally, Quarry LP purchased a new position in TKO Group during the 2nd quarter valued at about $51,000. 89.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $114.76, for a total transaction of $3,560,543.76. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 53.80% of the company’s stock.

Wall Street Analysts Forecast Growth

TKO has been the topic of a number of recent research reports. Roth Mkm upped their price objective on shares of TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen raised their price objective on TKO Group from $140.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. UBS Group boosted their target price on TKO Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Pivotal Research raised their price target on TKO Group from $140.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Guggenheim lifted their price target on TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and an average price target of $131.00.

TKO Group Price Performance

TKO opened at $135.77 on Friday. The company’s 50-day simple moving average is $123.24 and its two-hundred day simple moving average is $114.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $23.19 billion, a P/E ratio of -323.26 and a beta of 1.06. TKO Group Holdings, Inc. has a 52-week low of $72.33 and a 52-week high of $139.09.

TKO Group (NYSE:TKO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The company had revenue of $681.20 million for the quarter, compared to the consensus estimate of $665.12 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 51.7% on a year-over-year basis. As a group, analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group 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.