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Endeavor Group Holdings, Inc. (NYSE:EDR), under the leadership of Executive Chairman Patrick Whitesell, recently executed a series of stock acquisitions in TKO Group Holdings, Inc. (NYSE:TKO) totaling approximately $68.1 million. The transactions took place over several days, with shares purchased at prices ranging from $167.14 to $177.60 each. The timing appears strategic, as TKO’s stock has shown remarkable momentum with a 101.87% return over the past year and currently trades near its 52-week high of $178.13.
These purchases were made by Endeavor Operating Company, LLC, a subsidiary of Endeavor Group Holdings, under a pre-established trading plan. Whitesell, who is a member of the governing body of Endeavor, may be deemed to share beneficial ownership of the securities acquired, although he disclaims any ownership beyond his pecuniary interest. InvestingPro data shows TKO maintains a healthy financial position with a current ratio of 1.17, indicating sufficient liquidity to meet short-term obligations.
The transactions reflect a significant investment in TKO Group, a company involved in the amusement and recreation services sector. As of the latest transactions, Endeavor Operating Company holds a substantial number of shares in TKO Group, further solidifying its position as a major stakeholder in the $30.17 billion market cap company. While TKO currently trades near its InvestingPro Fair Value, analysts remain optimistic about its future profitability. Subscribers can access 16 additional ProTips and comprehensive financial metrics on the platform.
In other recent news, TKO Group Holdings has received positive attention from several major financial firms. Goldman Sachs has raised its stock target for TKO to $165, maintaining a Buy rating, in anticipation of robust fourth-quarter results for 2024, particularly in the Live Events & Sponsorship segments. Guggenheim also increased its price target for TKO Group to $170, citing an updated model that boosts the forecast for the company’s adjusted EBITDA in 2025 and 2026. Citi maintained its Buy rating on TKO and increased the stock’s price target from $137 to $170, citing a steady outlook for World Wrestling Entertainment (WWE) and an updated forecast for the Ultimate Fighting Championship (UFC) rights.
Meanwhile, the Ultimate Fighting Championship (UFC) has renewed its global partnership with Thorne, a leader in health and wellness solutions. This partnership continues Thorne’s role as the Official Sports Performance Nutrition Partner and an Official Partner of the UFC Performance Institute. In addition, Thorne is now a premier partner of the UFC’s Anti-Doping program. This collaboration has been noted for its significant reduction in contaminated supplement cases, enhancing the UFC’s anti-doping efforts.
In other company news, Vince McMahon, the former Executive Chairman and CEO of World Wrestling Entertainment Inc. (WWE), has settled charges with the Securities and Exchange Commission (SEC) for signing two undisclosed agreements on behalf of himself and WWE. McMahon agreed to the SEC’s order, paying a $400,000 civil penalty and reimbursing WWE $1,330,915.90 under Section 304(a) of the Sarbanes-Oxley Act. These are the recent developments in TKO Group Holdings and its associated entities.
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