Cercano Management LLC Takes Position in TKO Group Holdings, Inc. (NYSE:TKO)

Cercano Management LLC bought a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 75,095 shares of the company's stock, valued at approximately $10,672,000.

Several other hedge funds also recently made changes to their positions in TKO. Smartleaf Asset Management LLC grew its position in shares of TKO Group by 559.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 178 shares of the company's stock worth $26,000 after buying an additional 151 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of TKO Group during the fourth quarter valued at approximately $32,000. Game Plan Financial Advisors LLC lifted its holdings in shares of TKO Group by 172.2% during the fourth quarter. Game Plan Financial Advisors LLC now owns 245 shares of the company's stock valued at $35,000 after purchasing an additional 155 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of TKO Group in the 4th quarter worth approximately $38,000. Finally, UMB Bank n.a. grew its stake in shares of TKO Group by 72.8% in the 4th quarter. UMB Bank n.a. now owns 273 shares of the company's stock worth $39,000 after buying an additional 115 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

TKO Group Stock Performance

TKO stock traded down $0.45 during trading on Thursday, reaching $169.23. The stock had a trading volume of 1,451,464 shares, compared to its average volume of 1,104,565. The stock's 50 day moving average is $151.21 and its two-hundred day moving average is $145.57. The firm has a market cap of $28.97 billion, a PE ratio of -402.94 and a beta of 0.73. TKO Group Holdings, Inc. has a 52 week low of $97.37 and a 52 week high of $179.09. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.26) EPS. As a group, equities analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, March 14th. TKO Group's dividend payout ratio (DPR) is currently 7,600.00%.

Insider Activity

In other news, major shareholder Patrick Whitesell purchased 177,861 shares of the company's stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $165.99 per share, for a total transaction of $29,523,147.39. Following the completion of the transaction, the insider now directly owns 2,188,966 shares in the company, valued at $363,346,466.34. This trade represents a 8.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ariel Emanuel acquired 117,769 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were purchased at an average price of $175.40 per share, for a total transaction of $20,656,682.60. Following the completion of the transaction, the chief executive officer now directly owns 2,579,437 shares in the company, valued at approximately $452,433,249.80. This trade represents a 4.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 592,065 shares of company stock valued at $101,212,585 in the last ninety days. Corporate insiders own 53.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Guggenheim reiterated a "buy" rating and set a $175.00 price objective on shares of TKO Group in a research note on Wednesday, April 23rd. Pivotal Research reiterated a "buy" rating and issued a $195.00 price target (up previously from $145.00) on shares of TKO Group in a research note on Thursday, February 27th. Morgan Stanley raised their price objective on shares of TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. The Goldman Sachs Group upped their target price on shares of TKO Group from $142.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Susquehanna started coverage on shares of TKO Group in a research report on Monday, April 28th. They set a "positive" rating and a $180.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.08.

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.