Sumitomo Mitsui Trust Group Inc. Invests $464,000 in TKO Group Holdings, Inc. (NYSE:TKO)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,039 shares of the company's stock, valued at approximately $464,000.

Other hedge funds have also added to or reduced their stakes in the company. Sentry Investment Management LLC bought a new stake in shares of TKO Group during the first quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its holdings in TKO Group by 559.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 178 shares of the company's stock worth $26,000 after purchasing an additional 151 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in TKO Group in the 1st quarter valued at $27,000. Farther Finance Advisors LLC grew its holdings in TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after buying an additional 122 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in TKO Group by 229.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company's stock worth $37,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 89.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna began coverage on shares of TKO Group in a research report on Monday, April 28th. They issued a "positive" rating and a $180.00 target price for the company. The Goldman Sachs Group boosted their price objective on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a report on Monday, May 12th. Sanford C. Bernstein initiated coverage on shares of TKO Group in a research report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price on the stock. Guggenheim lifted their price target on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their price target on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.08.

Insiders Place Their Bets

In other news, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director directly owned 2,747 shares in the company, valued at approximately $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.46, for a total value of $1,508,380.74. Following the sale, the director directly owned 210,967 shares in the company, valued at $33,429,830.82. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 53.80% of the company's stock.

TKO Group Price Performance

Shares of TKO Group stock traded down $0.85 during trading on Monday, reaching $176.29. 568,875 shares of the company's stock were exchanged, compared to its average volume of 1,121,388. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.25 and a current ratio of 1.25. TKO Group Holdings, Inc. has a 1-year low of $102.46 and a 1-year high of $182.60. The company has a market cap of $34.89 billion, a P/E ratio of 89.49 and a beta of 0.73. The firm's 50-day moving average price is $166.61 and its 200 day moving average price is $156.33.

TKO Group (NYSE:TKO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned ($1.26) earnings per share. The business's quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.38 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.86%. TKO Group's dividend payout ratio is currently 77.16%.

TKO Group 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.