TKO Group Holdings, Inc. (NYSE:TKO) Sees Significant Decline in Short Interest

TKO Group Holdings, Inc. (NYSE:TKO) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 4,770,000 shares, a decrease of 23.1% from the March 15th total of 6,200,000 shares. Based on an average daily trading volume, of 1,530,000 shares, the short-interest ratio is currently 3.1 days. Approximately 7.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

TKO has been the topic of several research reports. Citigroup raised their price objective on shares of TKO Group from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Bank of America started coverage on TKO Group in a research report on Friday, March 15th. They issued a “buy” rating and a $100.00 price target on the stock. TD Cowen assumed coverage on TKO Group in a research report on Friday, January 12th. They set a “market perform” rating and a $92.00 price objective for the company. Jefferies Financial Group lifted their target price on TKO Group from $120.00 to $131.00 and gave the company a “buy” rating in a research note on Friday. Finally, Roth Mkm restated a “buy” rating and set a $112.00 price target on shares of TKO Group in a research note on Friday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.31.

Insider Activity

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

Institutional Trading of TKO Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management increased its position in TKO Group by 8.7% during the 4th quarter. Picton Mahoney Asset Management now owns 1,870 shares of the company’s stock worth $152,000 after purchasing an additional 150 shares in the last quarter. Strengthening Families & Communities LLC purchased a new stake in shares of TKO Group during the third quarter worth about $26,000. Quent Capital LLC acquired a new position in shares of TKO Group in the third quarter valued at approximately $27,000. Covestor Ltd purchased a new position in shares of TKO Group during the third quarter valued at approximately $27,000. Finally, Fifth Third Bancorp purchased a new position in shares of TKO Group during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Price Performance

TKO stock traded down $0.37 during trading on Monday, reaching $97.63. 1,100,851 shares of the company were exchanged, compared to its average volume of 1,472,445. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50 day moving average price is $86.56 and its 200 day moving average price is $82.32. TKO Group has a 52-week low of $72.33 and a 52-week high of $106.16. The company has a market cap of $16.79 billion, a P/E ratio of 143.57 and a beta of 1.06.

TKO Group (NYSE:TKO) last posted its earnings results on Tuesday, February 27th. The company reported ($0.09) 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 firm had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $619.48 million. As a group, analysts predict that TKO Group will post 2.39 earnings per share for the current fiscal year.

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.