Rhumbline Advisers Trims Position in TKO Group Holdings, Inc. (NYSE:TKO)

Rhumbline Advisers cut its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 29.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

Several other large investors have also recently made changes to their positions in TKO. Blue Trust Inc. raised its stake in shares of TKO Group by 28.2% during the fourth quarter. Blue Trust Inc. now owns 332 shares of the company's stock worth $47,000 after acquiring an additional 73 shares in the last quarter. Spire Wealth Management purchased a new stake in TKO Group during the 4th quarter valued at $54,000. Retirement Systems of Alabama grew its holdings in TKO Group by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 80,911 shares of the company's stock worth $11,498,000 after acquiring an additional 204 shares during the last quarter. Choreo LLC increased its position in shares of TKO Group by 32.3% in the fourth quarter. Choreo LLC now owns 8,014 shares of the company's stock valued at $1,149,000 after acquiring an additional 1,957 shares during the period. Finally, Portfolio Design Labs LLC purchased a new position in shares of TKO Group in the fourth quarter valued at about $313,000. 89.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TKO Group

In other news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of TKO Group stock in a transaction dated 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 in the company, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sonya E. Medina acquired 233 shares of TKO Group stock in a transaction dated Monday, March 17th. The stock was purchased at an average cost of $142.93 per share, with a total value of $33,302.69. Following the completion of the purchase, the director now owns 2,000 shares of the company's stock, 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 have purchased a total of 1,580,293 shares of company stock worth $250,199,446 over the last quarter. Company insiders own 61.30% of the company's stock.

TKO Group Stock Down 1.7%

Shares of NYSE TKO traded down $2.83 during midday trading on Friday, hitting $166.09. The stock had a trading volume of 789,421 shares, compared to its average volume of 1,114,718. The business's 50 day moving average is $156.63 and its 200-day moving average is $151.60. The company has a market cap of $32.87 billion, a P/E ratio of -395.45 and a beta of 0.70. TKO Group Holdings, Inc. has a 52 week low of $100.76 and a 52 week high of $179.09. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.07 billion. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.26) earnings per share. As a group, analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a yield of 0.92%. TKO Group's dividend payout ratio (DPR) is 77.16%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group lifted their price objective on TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. 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 report on Tuesday, March 4th. Finally, Sanford C. Bernstein started coverage on shares of TKO Group in a research report on Wednesday. They set an "outperform" rating and a $190.00 price objective on the stock. Two 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. Based on data from MarketBeat, TKO Group presently has an average rating of "Moderate Buy" and an average target price of $168.08.

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.