Principal Financial Group Inc. Increases Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Principal Financial Group Inc. raised its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 1.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,246,338 shares of the company’s stock after acquiring an additional 13,148 shares during the quarter. Principal Financial Group Inc.’s holdings in TKO Group were worth $154,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. XN LP grew its holdings in TKO Group by 100.9% during the first quarter. XN LP now owns 1,983,346 shares of the company’s stock valued at $171,381,000 after purchasing an additional 996,161 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of TKO Group by 267.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,320,859 shares of the company’s stock valued at $142,640,000 after acquiring an additional 961,880 shares during the period. Ninety One UK Ltd grew 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 acquiring an additional 557,444 shares during the period. Fairview Capital Investment Management LLC purchased a new stake in TKO Group in the 1st quarter worth approximately $43,999,000. Finally, Allspring Global Investments Holdings LLC raised its stake in TKO Group by 59.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 969,526 shares of the company’s stock worth $119,940,000 after acquiring an additional 362,460 shares during the period. Institutional investors own 89.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of TKO Group in a research note on Tuesday, August 20th. They issued a “buy” rating and a $140.00 price objective for the company. Redburn Atlantic assumed coverage on TKO Group in a research note on Thursday, July 18th. They issued a “buy” rating and a $129.00 price target for the company. The Goldman Sachs Group boosted their price objective on TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Pivotal Research increased their target price on TKO Group from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Roth Mkm boosted their price target on TKO Group from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.00.

TKO Group Price Performance

Shares of NYSE TKO opened at $117.89 on Friday. TKO Group Holdings, Inc. has a 12-month low of $72.33 and a 12-month high of $130.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day moving average price is $121.34 and its 200-day moving average price is $112.36.

TKO Group (NYSE:TKO) last announced its 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). TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company had revenue of $851.20 million during the quarter, compared to analysts’ expectations of $771.54 million. During the same quarter last year, the firm posted $0.91 EPS. TKO Group’s revenue for the quarter was up 178.9% compared to the same quarter last year. On average, equities research analysts expect that TKO Group Holdings, Inc. will post 4.07 EPS for the current year.

Insider Buying and Selling

In other news, insider Mark S. Shapiro sold 31,026 shares of the stock in a transaction 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 sale, the insider now owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 53.80% of the stock is owned by corporate insiders.

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.