Highland Capital Management LLC Makes New $4.26 Million Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Highland Capital Management LLC bought a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 27,900 shares of the company's stock, valued at approximately $4,263,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sentry Investment Management LLC bought a new stake in TKO Group during the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its stake in TKO Group by 559.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 178 shares of the company's stock worth $26,000 after acquiring an additional 151 shares during the period. Bartlett & CO. Wealth Management LLC bought a new stake in TKO Group during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC raised its stake in TKO Group by 129.8% during the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after acquiring an additional 122 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in TKO Group by 229.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company's stock worth $37,000 after acquiring an additional 170 shares during the period. Institutional investors own 89.79% of the company's stock.

TKO Group Price Performance

Shares of TKO stock traded up $3.05 on Friday, reaching $179.21. The company's stock had a trading volume of 2,282,614 shares, compared to its average volume of 1,123,732. The stock's fifty day simple moving average is $163.94 and its 200-day simple moving average is $155.09. TKO Group Holdings, Inc. has a 1 year low of $102.46 and a 1 year high of $179.39. 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 company has a market capitalization of $35.47 billion, a price-to-earnings ratio of 90.97 and a beta of 0.70.

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

TKO Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, June 13th. TKO Group's dividend payout ratio (DPR) is presently 77.16%.

Analysts Set New Price Targets

A number of research firms have commented on TKO. Benchmark restated a "hold" rating on shares of TKO Group in a research note on Monday, March 3rd. Seaport Res Ptn upgraded shares of TKO Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Guggenheim increased their price objective 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. The Goldman Sachs Group increased their price objective 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. Finally, Susquehanna started coverage on shares of TKO Group in a report on Monday, April 28th. They set a "positive" rating and a $180.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TKO Group has a consensus rating of "Moderate Buy" and a consensus target price of $168.08.

Insider Activity at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe bought 980 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $169.59 per share, with a total value of $166,198.20. Following the completion of the acquisition, the director now owns 2,747 shares in the company, valued at $465,863.73. This trade represents a 55.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 acquired 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 now owns 4,158,517 shares of the company's stock, valued at $658,376,411.44. This represents a 61.22% increase in their position. The disclosure for this purchase can be found here. 61.30% of the stock is currently 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.