Harbour Capital Advisors LLC Boosts Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Harbour Capital Advisors LLC lifted its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,990 shares of the company's stock after purchasing an additional 3,435 shares during the period. Harbour Capital Advisors LLC's holdings in TKO Group were worth $2,105,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Chevy Chase Trust Holdings LLC purchased a new stake in TKO Group during the 1st quarter worth about $5,352,000. Cooper Investors PTY Ltd. lifted its stake in TKO Group by 8.9% during the first quarter. Cooper Investors PTY Ltd. now owns 129,902 shares of the company's stock worth $19,850,000 after purchasing an additional 10,650 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in TKO Group during the first quarter worth approximately $297,000. Oppenheimer Asset Management Inc. boosted its holdings in TKO Group by 5.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,653 shares of the company's stock valued at $558,000 after purchasing an additional 174 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in TKO Group by 5.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,256 shares of the company's stock valued at $498,000 after purchasing an additional 155 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TKO Group

In related news, Director Peter C. B. Bynoe acquired 980 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $169.59 per share, with a total value of $166,198.20. Following the completion of the purchase, the director now directly owns 2,747 shares in the company, valued at approximately $465,863.73. The trade was a 55.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the purchase, the insider now directly owns 4,158,517 shares in the company, valued at $658,376,411.44. The trade was a 61.22% increase in their position. The disclosure for this purchase can be found here. 53.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TKO. Guggenheim upped their target price on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a report on Friday, May 9th. Morgan Stanley upped their price objective on shares of TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Benchmark reissued a "hold" rating on shares of TKO Group in a research report on Monday, March 3rd. Finally, Pivotal Research reiterated a "buy" rating and issued a $195.00 price objective (up previously from $145.00) on shares of TKO Group in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $168.08.

TKO Group Price Performance

Shares of NYSE TKO traded up $1.32 during midday trading on Tuesday, hitting $176.85. The company had a trading volume of 762,563 shares, compared to its average volume of 1,121,175. The firm has a market capitalization of $35.00 billion, a price-to-earnings ratio of 89.77 and a beta of 0.70. TKO Group Holdings, Inc. has a twelve month low of $102.46 and a twelve month high of $184.24. The business has a 50-day simple moving average of $161.73 and a two-hundred day simple moving average of $154.18. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29.

TKO Group (NYSE:TKO - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, topping 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%. TKO Group's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.26) earnings per share. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.52 annualized dividend and a dividend 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.