Illinois Municipal Retirement Fund Invests $777,000 in TKO Group Holdings, Inc. (NYSE:TKO)

Illinois Municipal Retirement Fund acquired a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,083 shares of the company's stock, valued at approximately $777,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in TKO Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 6,681,087 shares of the company's stock worth $949,449,000 after purchasing an additional 114,096 shares in the last quarter. Independent Franchise Partners LLP grew its position in shares of TKO Group by 7.4% in the 4th quarter. Independent Franchise Partners LLP now owns 3,409,140 shares of the company's stock worth $484,473,000 after buying an additional 235,420 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of TKO Group by 2.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,752,496 shares of the company's stock worth $249,047,000 after acquiring an additional 47,768 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of TKO Group by 57.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock worth $238,574,000 after acquiring an additional 611,178 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in TKO Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,255,099 shares of the company's stock valued at $178,777,000 after acquiring an additional 13,181 shares during the last quarter. Institutional investors own 89.79% of the company's stock.

TKO Group Trading Up 0.9%

Shares of NYSE:TKO opened at $177.27 on Thursday. 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 Holdings, Inc. has a 52-week low of $102.46 and a 52-week high of $182.60. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 89.98 and a beta of 0.73. The business has a 50-day moving average price of $165.80 and a 200-day moving average price of $155.74.

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. Equities analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's dividend payout ratio is currently 77.16%.

Insider Buying and Selling at TKO Group

In related news, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was 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. The trade was a 61.22% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. B. Bynoe acquired 980 shares of the stock in a transaction on Thursday, June 5th. The stock was bought at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the transaction, the director owned 2,747 shares in the company, valued at approximately $465,863.73. This represents a 55.46% increase in their position. The disclosure for this purchase can be found here. Company insiders own 61.30% of the company's stock.

Wall Street Analysts Forecast Growth

TKO has been the topic of several analyst reports. Guggenheim lifted their price target on shares of TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Sanford C. Bernstein initiated coverage on TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price on the stock. Susquehanna began coverage on TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 price target for the company. Finally, The Goldman Sachs Group raised their price target on TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $168.08.

About TKO Group

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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