Patrick Whitesell of Endeavor Group buys shares of TKO Group for $50.3 million By Investing.com
Patrick Whitesell, Executive Chairman of Endeavor Group Holdings, Inc. (NYSE:), made a significant acquisition of the Class A common stock of TKO Group Holdings, Inc. (NYSE:). The timing is notable as TKO is trading near a 52-week high of $149.40, after gaining more than 35% over the past six months. According to the most recent SEC filings, Whitesell purchased shares worth a total of approximately $50.3 million in several transactions.
The purchases were made through Endeavor Operating Company, LLC, as part of a predetermined trading plan. The transactions took place between January 17 and January 22, 2025, and the prices ranged from $142.57 to $146.13 per share. As a result of these acquisitions, the shares owned by Endeavor Operating Company increased to 1,031,804. InvestingPro data shows that TKO has a market capitalization of $24.46 billion, and analysts maintain an optimistic outlook on the stock.
These transactions underscore Endeavor’s continued investment in TKO Group Holdings, further cementing its stake in the company. Whitesell, who is a ten percent owner, conducted these transactions indirectly through Endeavor Operating Company, LLC, and disclaims beneficial ownership other than his pecuniary interest. According to InvestingProanalysts expect TKO to become profitable this year, with 12 additional exclusive insights available to subscribers.
In other recent news, TKO Group Holdings has seen significant progress. The company secured a $2.25 billion loan and made strides in financing initiatives with a $2.75 billion term loan. Furthermore, TKO acquired Professional Bull Riders, On Location and IMG from Endeavor in an all-equity deal valued at $3.25 billion. Analysts at BofA Securities and Citi maintained a Buy rating on TKO, despite Benchmark downgrading TKO shares from Buy to Hold due to concerns about potential growth. TKO also agreed to a $375 million settlement in a consolidated antitrust class action.
In parallel, former WWE CEO Vince McMahon settled charges with the SEC over undisclosed agreements that circumvented WWE’s system of internal accounting controls, leading to material misstatements in WWE’s 2018 financial statements. and 2021. These undisclosed contracts resulted in WWE overstating its 2018 net income by approximately 8 percent and its 2021 net income by approximately 1.7 percent. McMahon agreed to pay a civil penalty of $400,000 and to reimburse WWE $1,330,915.90 under Section 304(a) of the Sarbanes-Oxley Act.
These are the latest developments for TKO Group Holdings and WWE.
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