State of Michigan Retirement System Has $2.77 Million Stake in TKO Group Holdings, Inc. (NYSE:TKO)

State of Michigan Retirement System increased its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,100 shares of the company's stock after buying an additional 2,390 shares during the period. State of Michigan Retirement System's holdings in TKO Group were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TKO. Sentry Investment Management LLC acquired a new position in TKO Group during the first quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC acquired a new position in TKO Group during the first quarter valued at approximately $27,000. Farther Finance Advisors LLC raised its position in TKO Group by 129.8% during the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after purchasing an additional 122 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in TKO Group by 229.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company's stock valued at $37,000 after purchasing an additional 170 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in TKO Group during the first quarter valued at approximately $38,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Stock Performance

NYSE TKO opened at $171.81 on Monday. The company has a market capitalization of $34.00 billion, a price-to-earnings ratio of 87.21 and a beta of 0.73. TKO Group Holdings, Inc. has a twelve month low of $102.46 and a twelve month high of $182.60. The stock has a fifty day simple moving average of $167.59 and a 200 day simple moving average of $157.35. 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 posted 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 business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.07 billion. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. TKO Group's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted ($1.26) earnings per share. Sell-side analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 yield of 0.88%. TKO Group's payout ratio is currently 77.16%.

Insiders Place Their Bets

In other TKO Group news, Director Peter C. B. Bynoe purchased 980 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the acquisition, the director owned 2,747 shares in the company, valued at approximately $465,863.73. The trade was a 55.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were acquired at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the acquisition, the insider owned 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 disclosure for this purchase can be found here. Company insiders own 53.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TKO shares. Sanford C. Bernstein started coverage on shares of TKO Group in a research report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price objective for the company. Northcoast Research downgraded shares of TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday. The Goldman Sachs Group boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, Guggenheim boosted their target price on shares of TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding TKO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TKO Group Holdings, Inc. (NYSE:TKO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.