Ameriprise Financial Inc. Acquires 611,178 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Ameriprise Financial Inc. increased its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 57.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,678,258 shares of the company's stock after acquiring an additional 611,178 shares during the quarter. Ameriprise Financial Inc. owned about 0.98% of TKO Group worth $238,574,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in TKO Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,681,087 shares of the company's stock valued at $949,449,000 after buying an additional 114,096 shares during the last quarter. Ninety One UK Ltd increased its position in shares of TKO Group by 4.1% during the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company's stock worth $589,985,000 after acquiring an additional 163,980 shares during the period. Independent Franchise Partners LLP increased its position in TKO Group by 7.4% during the 4th quarter. Independent Franchise Partners LLP now owns 3,409,140 shares of the company's stock valued at $484,473,000 after purchasing an additional 235,420 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of TKO Group by 2.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,752,496 shares of the company's stock valued at $249,047,000 after buying an additional 47,768 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in TKO Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,255,099 shares of the company's stock valued at $178,777,000 after acquiring an additional 13,181 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

Insider Activity at TKO Group

In other news, Director Sonya E. Medina bought 233 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average cost of $142.93 per share, for a total transaction of $33,302.69. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at approximately $285,860. This represents a 13.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Patrick Whitesell acquired 177,861 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $165.99 per share, with a total value of $29,523,147.39. Following the transaction, the insider now owns 2,188,966 shares in the company, valued at approximately $363,346,466.34. This trade represents a 8.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 592,065 shares of company stock valued at $101,212,585. 53.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TKO has been the subject of a number of recent analyst reports. Susquehanna assumed coverage on shares of TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 target price for the company. Seaport Res Ptn upgraded TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Morgan Stanley raised their price objective on TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Benchmark reiterated a "hold" rating on shares of TKO Group in a research report on Monday, March 3rd. Finally, Guggenheim reaffirmed a "buy" rating and set a $175.00 price target on shares of TKO Group in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $161.08.

TKO Group Stock Performance

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

TKO Group (NYSE:TKO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. During the same quarter last year, the business earned ($1.26) EPS. TKO Group's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. TKO Group's payout ratio is presently 7,600.00%.

About TKO Group

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.