QRG Capital Management Inc. Invests $230,000 in TKO Group Holdings, Inc. (NYSE:TKO)

QRG Capital Management Inc. bought a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,508 shares of the company's stock, valued at approximately $230,000.

Several other institutional investors also recently made changes to their positions in the stock. Sentry Investment Management LLC acquired a new position in shares of TKO Group during the first quarter valued at $25,000. Smartleaf Asset Management LLC boosted its holdings in shares of TKO Group by 559.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 178 shares of the company's stock worth $26,000 after purchasing an additional 151 shares during the period. Farther Finance Advisors LLC grew its stake in TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after purchasing an additional 122 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in TKO Group by 229.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company's stock worth $37,000 after acquiring an additional 170 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of TKO Group during the 4th quarter worth about $38,000. 89.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on TKO shares. Pivotal Research reaffirmed a "buy" rating and issued a $195.00 target price (up previously from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Seaport Res Ptn upgraded shares of TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Benchmark restated a "hold" rating on shares of TKO Group in a research report on Monday, March 3rd. The Goldman Sachs Group increased 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. Finally, JPMorgan Chase & Co. lifted their target price on TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.08.

Insider Activity 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 purchased at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the purchase, the insider now owns 4,158,517 shares in the company, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 price of $169.59 per share, for a total transaction 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 represents a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 53.80% of the stock is currently owned by company insiders.

TKO Group Stock Up 0.8%

TKO Group stock opened at $176.85 on Wednesday. TKO Group Holdings, Inc. has a twelve month low of $102.46 and a twelve month high of $179.09. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. The company's 50-day moving average price is $162.28 and its two-hundred day moving average price is $154.33. The stock has a market cap of $35.00 billion, a P/E ratio of 89.77 and a beta of 0.70.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, topping 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted ($1.26) EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, June 13th. 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.

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