Arlington Partners LLC reduced its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,878 shares of the company's stock after selling 5,929 shares during the quarter. Arlington Partners LLC's holdings in TKO Group were worth $3,802,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in TKO Group by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,289 shares of the company's stock worth $66,691,000 after buying an additional 16,536 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TKO Group by 21.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company's stock valued at $2,836,000 after purchasing an additional 3,572 shares during the period. Twin Tree Management LP boosted its stake in shares of TKO Group by 147.0% in the fourth quarter. Twin Tree Management LP now owns 123,713 shares of the company's stock valued at $17,581,000 after purchasing an additional 73,617 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of TKO Group in the fourth quarter valued at $431,000. Finally, Moore Capital Management LP boosted its stake in shares of TKO Group by 1,625.0% in the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock valued at $59,443,000 after purchasing an additional 394,038 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.46, for a total transaction of $1,508,380.74. Following the transaction, the director now owns 210,967 shares of the company's stock, valued at approximately $33,429,830.82. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were acquired at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the transaction, the insider now owns 4,158,517 shares of the company's stock, 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. Corporate insiders own 53.80% of the company's stock.
TKO Group Stock Performance
Shares of TKO opened at $176.85 on Wednesday. TKO Group Holdings, Inc. has a one year low of $102.46 and a one year high of $179.09. The company has a 50-day moving average of $162.28 and a two-hundred day moving average of $154.33. The stock has a market cap of $35.00 billion, a price-to-earnings ratio of 89.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25.
TKO Group (NYSE:TKO - Get Free Report) last announced 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 net margin of 4.98% and a return on equity of 2.52%. The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the company posted ($1.26) earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.
TKO Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, June 13th. TKO Group's payout ratio is 77.16%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on TKO shares. Susquehanna started 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. Sanford C. Bernstein started coverage on shares of TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group upped their target price on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Benchmark reaffirmed a "hold" rating on shares of TKO Group in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $168.08.
Check Out Our Latest Analysis on TKO
TKO Group Company Profile
(
Free Report)
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.
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