Harvest Fund Management Co. Ltd Sells 5,265 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in TKO Group Holdings by 79.7%, selling over 5,200 shares, leading to ownership of only 1,337 shares valued at approximately $204,000.
• Insider transactions showed significant activity with Director Nick Khan selling 45,168 shares worth nearly $7.72 million, while another director, Peter C. B. Bynoe, increased his holdings by 55.46% through a purchase of shares.
• Analysts have mixed views on TKO Group, with price targets ranging from $171.33 to $190.00, indicating a consensus rating of "Moderate Buy" based on various recent ratings.

Harvest Fund Management Co. Ltd trimmed its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 79.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,337 shares of the company's stock after selling 5,265 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in TKO Group were worth $204,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TKO. Norges Bank purchased a new stake in TKO Group during the fourth quarter worth approximately $104,613,000. Ameriprise Financial Inc. grew its stake in TKO Group by 57.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock worth $238,574,000 after buying an additional 611,178 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of TKO Group in the first quarter valued at $71,834,000. Steadfast Capital Management LP boosted its stake in shares of TKO Group by 146.9% in the fourth quarter. Steadfast Capital Management LP now owns 710,784 shares of the company's stock valued at $101,010,000 after purchasing an additional 422,900 shares during the period. Finally, Moore Capital Management LP boosted its stake in shares of TKO Group by 1,625.0% in the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock valued at $59,443,000 after purchasing an additional 394,038 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

TKO Group Stock Performance

Shares of NYSE:TKO traded down $2.34 during trading on Friday, reaching $165.67. The stock had a trading volume of 675,724 shares, compared to its average volume of 712,429. TKO Group Holdings, Inc. has a 52 week low of $102.46 and a 52 week high of $182.60. The firm has a market capitalization of $32.79 billion, a price-to-earnings ratio of 72.32 and a beta of 0.72. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $169.36 and a two-hundred day simple moving average of $159.91.

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, topping 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted ($1.26) earnings per share. TKO Group's quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, June 13th. TKO Group's payout ratio is currently 77.16%.

Insider Activity

In other news, Director Nick Khan sold 9,519 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $167.36, for a total value of $1,593,099.84. Following the sale, the director owned 146,975 shares in the company, valued at approximately $24,597,736. The trade was a 6.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. B. Bynoe bought 980 shares of TKO Group 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 purchase, the director directly owned 2,747 shares in the company, valued at $465,863.73. This represents a 55.46% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 73,725 shares of company stock worth $12,501,561. Corporate insiders own 61.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TKO. Northcoast Research cut shares of TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. 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 target for the company. Susquehanna started coverage on shares of TKO Group in a research note on Monday, April 28th. They set a "positive" rating and a $180.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, 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. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $171.33.

TKO Group 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.