Cynosure Group LLC Sells 653 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Cynosure Group LLC trimmed its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,978 shares of the company’s stock after selling 653 shares during the period. Cynosure Group LLC’s holdings in TKO Group were worth $368,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Pivotal Research raised their price objective on shares of TKO Group from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen raised their price target on TKO Group from $140.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Guggenheim lifted their price objective on TKO Group from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group increased their target price on TKO Group from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America assumed coverage on TKO Group in a research report on Tuesday, August 20th. They set a “buy” rating and a $140.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.43.

Insider Activity

In related news, insider Mark S. Shapiro sold 31,026 shares of TKO Group stock in a transaction that occurred on Monday, September 16th. The stock was 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 trade represents a 42.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 53.80% of the company’s stock.

TKO Group Price Performance

Shares of TKO stock opened at $138.21 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. TKO Group Holdings, Inc. has a 52 week low of $72.33 and a 52 week high of $139.45. The company’s 50 day moving average price is $124.27 and its two-hundred day moving average price is $115.45.

TKO Group (NYSE:TKO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.28). The company 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. Equities research analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

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.