Retirement Systems of Alabama Sells 66,603 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Retirement Systems of Alabama lowered its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 82.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,308 shares of the company's stock after selling 66,603 shares during the quarter. Retirement Systems of Alabama's holdings in TKO Group were worth $2,186,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. lifted its position in TKO Group by 28.2% during the 4th quarter. Blue Trust Inc. now owns 332 shares of the company's stock valued at $47,000 after purchasing an additional 73 shares during the period. IFP Advisors Inc raised its stake in shares of TKO Group by 18.2% during the fourth quarter. IFP Advisors Inc now owns 5,433 shares of the company's stock worth $773,000 after buying an additional 837 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in TKO Group by 4.7% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 2,729 shares of the company's stock valued at $388,000 after buying an additional 123 shares during the period. Proficio Capital Partners LLC acquired a new position in TKO Group in the fourth quarter valued at approximately $2,948,000. Finally, US Bancorp DE boosted its stake in TKO Group by 18.0% in the fourth quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $80,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company's stock.

TKO Group Stock Up 0.7%

NYSE TKO traded up $1.30 during trading hours on Thursday, reaching $176.24. 828,291 shares of the company's stock were exchanged, compared to its average volume of 1,380,710. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 89.46 and a beta of 0.70. The company's 50-day moving average is $162.81 and its two-hundred day moving average is $154.48. TKO Group Holdings, Inc. has a one year low of $102.46 and a one year high of $179.09.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $1.07 billion. During the same quarter in the prior year, the company earned ($1.26) earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal 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 given a dividend of $0.38 per share. The ex-dividend date 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%.

Insider Buying and Selling

In related news, Director Peter C. B. Bynoe acquired 980 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the purchase, the director now directly owns 2,747 shares in the company, valued at approximately $465,863.73. This trade represents a 55.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the firm'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 completion of the purchase, the insider now directly 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TKO. Susquehanna started coverage on TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 price target on the stock. JPMorgan Chase & Co. increased their target price on TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Benchmark restated a "hold" rating on shares of TKO Group in a report on Monday, March 3rd. Seaport Res Ptn upgraded TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group increased their price target on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Two equities research 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.