Rice Hall James & Associates LLC Has $46.32 Million Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Rice Hall James & Associates LLC cut its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 16.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,118 shares of the company's stock after selling 61,480 shares during the period. TKO Group makes up approximately 2.7% of Rice Hall James & Associates LLC's investment portfolio, making the stock its 6th biggest position. Rice Hall James & Associates LLC owned approximately 0.18% of TKO Group worth $46,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TKO Group by 21.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company's stock valued at $2,836,000 after acquiring an additional 3,572 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in TKO Group during the first quarter worth approximately $1,163,000. Friedenthal Financial bought a new stake in TKO Group during the first quarter worth approximately $895,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in TKO Group during the first quarter worth approximately $464,000. Finally, Twin Tree Management LP boosted its holdings in TKO Group by 147.0% during the fourth quarter. Twin Tree Management LP now owns 123,713 shares of the company's stock worth $17,581,000 after buying an additional 73,617 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TKO has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Northcoast Research cut shares of TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday. Sanford C. Bernstein initiated coverage on shares of TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price for the company. Guggenheim raised their target price 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. Finally, The Goldman Sachs Group raised their price objective on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Three investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $168.08.

TKO Group Trading Down 0.6%

Shares of NYSE:TKO opened at $171.81 on Monday. The firm has a fifty day moving average of $167.59 and a two-hundred day moving average of $157.35. The firm has a market capitalization of $34.00 billion, a P/E ratio of 87.21 and a beta of 0.73. TKO Group Holdings, Inc. has a 12-month low of $102.46 and a 12-month high of $182.60. 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 (NYSE:TKO - Get Free Report) last issued its earnings results 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. 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%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.26) EPS. On average, equities analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.88%. TKO Group's dividend payout ratio is currently 77.16%.

Insider Activity

In other TKO Group news, Director Peter C. B. Bynoe purchased 980 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the acquisition, the director owned 2,747 shares of the company's stock, valued at $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.46, for a total transaction of $1,508,380.74. Following the transaction, the director owned 210,967 shares in the company, valued at $33,429,830.82. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. 53.80% of the stock is owned by insiders.

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.

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