Fortis Group Advisors LLC Has $314,000 Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Fortis Group Advisors LLC lessened its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 51.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,057 shares of the company's stock after selling 2,217 shares during the period. Fortis Group Advisors LLC's holdings in TKO Group were worth $314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Focus Partners Advisor Solutions LLC raised its holdings in shares of TKO Group by 3.6% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,835 shares of the company's stock worth $261,000 after acquiring an additional 63 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of TKO Group by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 26,174 shares of the company's stock worth $3,720,000 after acquiring an additional 78 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in shares of TKO Group by 1.1% during the first quarter. Simon Quick Advisors LLC now owns 7,558 shares of the company's stock worth $1,155,000 after acquiring an additional 82 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of TKO Group by 2.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,160 shares of the company's stock worth $449,000 after acquiring an additional 90 shares in the last quarter. Finally, Utah Retirement Systems raised its holdings in shares of TKO Group by 2.4% during the fourth quarter. Utah Retirement Systems now owns 4,300 shares of the company's stock worth $611,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TKO shares. JPMorgan Chase & Co. increased their price objective on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. The Goldman Sachs Group raised their target price on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a report on Monday, May 12th. Guggenheim raised their target price on TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a report on Friday, May 9th. Northcoast Research lowered TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. Finally, Sanford C. Bernstein assumed coverage on TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price on the stock. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $168.08.

TKO Group Stock Performance

TKO traded up $1.30 on Friday, hitting $170.65. 950,998 shares of the stock traded hands, compared to its average volume of 1,126,310. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average price of $167.95 and a two-hundred day moving average price of $158.10. The firm has a market capitalization of $33.77 billion, a PE ratio of 86.62 and a beta of 0.73. TKO Group Holdings, Inc. has a 52 week low of $102.46 and a 52 week high of $182.60.

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

TKO Group Announces Dividend

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

Insider Buying and Selling at TKO Group

In related news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the acquisition, the insider owned 4,158,517 shares of the company's stock, valued at $658,376,411.44. This trade represents a 61.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. B. Bynoe bought 980 shares of TKO Group stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the acquisition, the director directly owned 2,747 shares in the company, valued at $465,863.73. This represents a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 61.30% of the company's stock.

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.