Freestone Grove Partners LP Acquires New Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Freestone Grove Partners LP bought a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,792 shares of the company's stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TKO. Virtu Financial LLC bought a new stake in TKO Group during the third quarter worth $221,000. Wilmington Savings Fund Society FSB bought a new stake in shares of TKO Group during the 3rd quarter worth $426,000. Tidal Investments LLC boosted its holdings in shares of TKO Group by 259.1% in the 3rd quarter. Tidal Investments LLC now owns 21,803 shares of the company's stock worth $2,697,000 after buying an additional 15,732 shares during the last quarter. Retirement Systems of Alabama grew its position in TKO Group by 11.0% during the third quarter. Retirement Systems of Alabama now owns 80,707 shares of the company's stock valued at $9,984,000 after buying an additional 8,006 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in TKO Group by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,246,338 shares of the company's stock worth $154,185,000 after buying an additional 13,148 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

Insider Activity at TKO Group

In other news, Director Jonathan Kraft acquired 20,000 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $151.78 per share, with a total value of $3,035,600.00. Following the completion of the transaction, the director now owns 20,000 shares of the company's stock, valued at $3,035,600. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ariel Emanuel bought 72,970 shares of TKO Group stock in a transaction dated Thursday, February 6th. The stock was acquired at an average cost of $160.59 per share, for a total transaction of $11,718,252.30. Following the completion of the transaction, the chief executive officer now directly owns 2,011,105 shares in the company, valued at approximately $322,963,351.95. This trade represents a 3.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 665,035 shares of company stock worth $112,930,837 over the last 90 days. 53.80% of the stock is owned by company insiders.

TKO Group Trading Up 1.3 %

NYSE:TKO traded up $2.14 during midday trading on Wednesday, reaching $170.08. 1,387,054 shares of the stock traded hands, compared to its average volume of 1,103,969. The stock has a market capitalization of $29.11 billion, a P/E ratio of -404.96 and a beta of 0.73. TKO Group Holdings, Inc. has a 12 month low of $97.37 and a 12 month high of $179.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The company has a fifty day moving average of $150.77 and a 200 day moving average of $145.29.

TKO Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.52 annualized dividend and a yield of 0.89%. TKO Group's dividend payout ratio (DPR) is presently 7,600.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TKO. Susquehanna began coverage on shares of TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 target price on the stock. Morgan Stanley upped their price objective on TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Pivotal Research reissued a "buy" rating and issued a $195.00 target price (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. UBS Group boosted their target price on TKO Group from $135.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Finally, Guggenheim restated a "buy" rating and set a $175.00 target price on shares of TKO Group in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $161.08.

About TKO Group

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.