Sequoia Financial Advisors LLC Makes New Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Sequoia Financial Advisors LLC bought a new stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 470,084 shares of the company's stock, valued at approximately $71,834,000. Sequoia Financial Advisors LLC owned 0.27% of TKO Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TKO. Moran Wealth Management LLC raised its position in TKO Group by 5.1% in the first quarter. Moran Wealth Management LLC now owns 20,438 shares of the company's stock worth $3,123,000 after acquiring an additional 999 shares during the period. Harbour Capital Advisors LLC increased its stake in shares of TKO Group by 32.5% in the 1st quarter. Harbour Capital Advisors LLC now owns 13,990 shares of the company's stock worth $2,105,000 after purchasing an additional 3,435 shares in the last quarter. Chevy Chase Trust Holdings LLC purchased a new stake in shares of TKO Group in the 1st quarter worth $5,352,000. Cooper Investors PTY Ltd. raised its holdings in TKO Group by 8.9% in the 1st quarter. Cooper Investors PTY Ltd. now owns 129,902 shares of the company's stock worth $19,850,000 after purchasing an additional 10,650 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in TKO Group during the first quarter valued at $297,000. 89.79% of the stock is owned by hedge funds and other institutional investors.

TKO Group Price Performance

Shares of TKO traded up $1.30 during midday trading on Thursday, hitting $176.24. 828,699 shares of the company traded hands, compared to its average volume of 1,121,185. The stock has a market cap of $34.88 billion, a price-to-earnings ratio of 89.46 and a beta of 0.70. The firm has a 50 day moving average of $162.81 and a 200-day moving average of $154.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.25 and a current ratio of 1.25. TKO Group Holdings, Inc. has a 52 week low of $102.46 and a 52 week high of $179.09.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.69 EPS 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 business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned ($1.26) earnings per share. TKO Group'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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, June 13th. TKO Group's dividend payout ratio (DPR) is 77.16%.

Insider Activity

In other news, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction dated 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 acquisition, the director now owns 2,747 shares of the company's stock, valued at $465,863.73. The trade was a 55.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nick Khan sold 9,519 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.46, for a total transaction of $1,508,380.74. Following the completion of the sale, the director now directly owns 210,967 shares in the company, valued at $33,429,830.82. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 61.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TKO. Seaport Res Ptn upgraded TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Sanford C. Bernstein began coverage on TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price objective for the company. Pivotal Research reissued a "buy" rating and issued a $195.00 target price (up from $145.00) on shares of TKO Group in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price target on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group upped their price target on shares of TKO Group from $170.00 to $188.00 and gave the stock 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. According to MarketBeat, the company 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.