Rhumbline Advisers Sells 57,752 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Rhumbline Advisers reduced its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,154 shares of the company's stock after selling 57,752 shares during the quarter. Rhumbline Advisers owned 0.08% of TKO Group worth $21,264,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TKO. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 151 shares in the last quarter. Game Plan Financial Advisors LLC lifted its stake in TKO Group by 172.2% in the 4th quarter. Game Plan Financial Advisors LLC now owns 245 shares of the company's stock valued at $35,000 after purchasing an additional 155 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted 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 valued at $37,000 after buying an additional 170 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of TKO Group during the fourth quarter worth $38,000. Finally, Kestra Investment Management LLC acquired a new position in shares of TKO Group during the fourth quarter worth $44,000. 89.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In related news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average price of $158.32 per share, for a total transaction 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 approximately $658,376,411.44. This trade represents a 61.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sonya E. Medina acquired 233 shares of the business's stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $142.93 per share, for a total transaction of $33,302.69. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $285,860. This represents a 13.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,580,293 shares of company stock valued at $250,199,446 in the last quarter. 61.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TKO shares. Morgan Stanley increased their target price on TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. Sanford C. Bernstein started coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price objective for the company. Susquehanna initiated coverage on shares of TKO Group in a research report on Monday, April 28th. They set a "positive" rating and a $180.00 target price on the stock. 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. Finally, Guggenheim raised their price target on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, TKO Group presently has a consensus rating of "Moderate Buy" and an average price target of $168.08.

TKO Group Trading Up 0.7%

TKO stock traded up $1.22 during midday trading on Tuesday, hitting $164.55. The stock had a trading volume of 834,445 shares, compared to its average volume of 1,116,553. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a market cap of $32.56 billion, a P/E ratio of -391.78 and a beta of 0.70. The business has a fifty day moving average price of $157.00 and a two-hundred day moving average price of $152.11. TKO Group Holdings, Inc. has a 1-year low of $100.76 and a 1-year high of $179.09.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.14. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned ($1.26) EPS. The firm's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 13th. TKO Group's payout ratio is 77.16%.

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.