TKO Group Holdings, Inc. (NYSE:TKO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,901 shares of the company's stock after selling 106,095 shares during the period. Bank of New York Mellon Corp owned about 0.23% of TKO Group worth $60,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TKO Group by 21.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company's stock worth $2,836,000 after acquiring an additional 3,572 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in TKO Group during the 1st quarter worth about $1,163,000. Friedenthal Financial bought a new position in TKO Group during the 1st quarter worth about $895,000. Sumitomo Mitsui Trust Group Inc. bought a new position in TKO Group during the 1st quarter worth about $464,000. Finally, Twin Tree Management LP grew its holdings in TKO Group by 147.0% during the 4th quarter. Twin Tree Management LP now owns 123,713 shares of the company's stock worth $17,581,000 after acquiring an additional 73,617 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TKO shares. 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 target on the stock. Sanford C. Bernstein started coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target on the stock. The Goldman Sachs Group raised their price target 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. JPMorgan Chase & Co. raised their price target on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $168.08.

TKO Group Stock Performance

TKO traded down $1.08 during trading on Friday, reaching $171.81. 704,777 shares of the company's stock were exchanged, compared to its average volume of 1,128,894. TKO Group Holdings, Inc. has a 1 year low of $102.46 and a 1 year high of $182.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $34.00 billion, a P/E ratio of 87.21 and a beta of 0.73. The company's fifty day simple moving average is $167.59 and its 200-day simple moving average is $157.27.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly 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. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.07 billion. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. TKO Group's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.26) EPS. As a group, research analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.88%. TKO Group's payout ratio is 77.16%.

Insider Buying and Selling

In related news, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was bought at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the acquisition, the insider owned 4,158,517 shares in the company, valued at $658,376,411.44. The trade was a 61.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. B. Bynoe purchased 980 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director owned 2,747 shares in the company, valued at $465,863.73. This represents a 55.46% increase in their position. The disclosure for this purchase can be found here. 61.30% of the stock is owned by insiders.

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.