Andrew M. Schleimer, Chief Financial Officer of TKO Group Holdings, Inc. (NYSE:TKO), recently sold a portion of his holdings in the company. According to a recent SEC filing, Schleimer sold 3,265 shares of TKO Group's Class A common stock on January 21 for a weighted average price of $143.80 per share, amounting to a total of $469,507. The transaction occurred near TKO's 52-week high of $149.40, with the stock showing impressive momentum, gaining nearly 60% over the past year. This transaction was conducted under a Rule 10b5-1 instruction letter, which Schleimer entered into on November 14, 2023, to fulfill tax obligations related to previously vested equity awards.
Following the sale, Schleimer now holds 9,563 shares of TKO Group's Class A common stock. Additionally, on January 20, Schleimer acquired 5,833 shares through the vesting of restricted stock units, although these were acquired at no cost.
TKO Group Holdings, Inc., which operates in the amusement and recreation services sector, has its headquarters in New York City. With a market capitalization of $24.46 billion and a "GOOD" financial health rating from InvestingPro, the company maintains a strong position in its industry.
In other recent news, former WWE CEO Vince McMahon has settled charges with the SEC for undisclosed agreements that led to WWE overstating its net income in 2018 and 2021. McMahon has agreed to pay a $400,000 civil penalty and reimburse WWE $1,330,915.90.
TKO Group Holdings, on the other hand, has been making significant strides in its financial initiatives. Citi maintained its Buy rating on TKO and increased the stock's price target, citing a steady outlook for WWE and an updated forecast for the UFC rights. Moreover, TKO secured a $2.25 billion loan facility and acquired Professional Bull Riders, On Location, and IMG from Endeavor in an all-equity deal valued at $3.25 billion.
TKO Group has also settled a consolidated class-action antitrust lawsuit for $375 million. However, responses from analysts to these developments have been mixed, with BofA Securities maintaining a Buy rating while Benchmark downgraded TKO shares from Buy to Hold due to potential growth dilution concerns. These are recent developments for both WWE and TKO Group Holdings.
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