TKO Group Pick of the Week at Smart Insider Following $4.5 Million in Executive Share Purchases

MT Newswires Live05-20

TKO Group (TKO) was Smart Insider's stock pick of the week after the company's chief executive, chief operating officer, and chief financial officer purchased a combined $4.5 million worth of stock on May 13 at around $185 per share.

Ariel Emanuel, chair and chief executive since February 2024, acquired $2 million in stock through a direct purchase, Smart Insider said in a Wednesday note.

The transaction is "noteworthy" because most of Emanuel's prior trades and the majority of his 6.1 million-share holding were indirect through Endeavor Group, according to Smart Insider. His only prior direct purchase was a $1 million subscription at $80 per share in November 2023, according to the note.

First-time buyers, COO Mark Shapiro and CFO Andrew Schleimer, acquired $2 million and $500,000 of stock, respectively, Smart Insider said.

Smart Insider said the purchases triggered short-swing profit violations tied to planned option sales in January at $202 per share. Shapiro and Schleimer repaid the company about $205,000 and $50,000, respectively, in realized profits.

While the transactions were likely coordinated, Smart Insider said "it is notable" that three senior executives purchased shares at current levels shortly after the company reported Q1 earnings on May 6.

Smart Insider ranked TKO Group +1, indicating a strong positive signal.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment