45,656 Shares in TKO Group Holdings, Inc. (NYSE:TKO) Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. bought a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 45,656 shares of the company's stock, valued at approximately $6,977,000.

Several other large investors also recently modified their holdings of TKO. Sentry Investment Management LLC purchased a new stake in TKO Group in the first quarter worth about $25,000. Bartlett & CO. Wealth Management LLC purchased a new stake in TKO Group in the first quarter worth about $27,000. Farther Finance Advisors LLC lifted its holdings in TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after buying an additional 122 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in TKO Group by 229.7% in the first 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. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of TKO Group in the 1st quarter worth approximately $38,000. 89.79% of the stock is owned by institutional investors.

TKO Group Price Performance

TKO stock traded up $2.05 during mid-day trading on Friday, hitting $170.05. The company had a trading volume of 608,974 shares, compared to its average volume of 850,214. The company has a market capitalization of $33.65 billion, a price-to-earnings ratio of 86.32 and a beta of 0.73. TKO Group Holdings, Inc. has a 12-month low of $102.46 and a 12-month high of $182.60. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $168.55 and a 200 day moving average price of $159.00.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly 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. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.07 billion. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.26) EPS. On average, research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's dividend payout ratio is 77.16%.

Insider Activity

In other TKO Group news, Director Peter C. B. Bynoe bought 980 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the transaction, the director owned 2,747 shares of the company's stock, valued at $465,863.73. This represents a 55.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the transaction, the insider directly owned 4,158,517 shares in the company, valued at approximately $658,376,411.44. This represents a 61.22% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 73,725 shares of company stock worth $12,501,561. 61.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TKO has been the topic of several recent research reports. Guggenheim upped their price target on TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their price objective on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Susquehanna started coverage on shares of TKO Group in a report on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective 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 stock a "buy" rating in a report on Monday, May 12th. Finally, Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $171.33.

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.