TKO Group Holdings, Inc. (NYSE:TKO) Position Reduced by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,193,120 shares of the company's stock after selling 72,863 shares during the period. Bank of America Corp DE owned 0.70% of TKO Group worth $169,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in shares of TKO Group by 559.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 178 shares of the company's stock valued at $26,000 after buying an additional 151 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of TKO Group in the fourth quarter valued at approximately $32,000. Game Plan Financial Advisors LLC raised its position in shares of TKO Group by 172.2% in the fourth quarter. Game Plan Financial Advisors LLC now owns 245 shares of the company's stock valued at $35,000 after buying an additional 155 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of TKO Group in the fourth quarter valued at approximately $38,000. Finally, UMB Bank n.a. raised its position in shares of TKO Group by 72.8% in the fourth quarter. UMB Bank n.a. now owns 273 shares of the company's stock valued at $39,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

Insider Activity

In other TKO Group news, CEO Ariel Emanuel acquired 117,769 shares of the stock in a transaction on Wednesday, February 12th. The stock was purchased at an average price of $175.40 per share, for a total transaction of $20,656,682.60. Following the purchase, the chief executive officer now directly owns 2,579,437 shares in the company, valued at $452,433,249.80. This trade represents a 4.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sonya E. Medina acquired 233 shares of the stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $142.93 per share, with a total value of $33,302.69. Following the purchase, the director now owns 2,000 shares in the company, valued at $285,860. This represents a 13.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 297,948 shares of company stock worth $51,689,918 over the last ninety days. Corporate insiders own 61.30% of the company's stock.

TKO Group Trading Up 0.3%

Shares of TKO Group stock traded up $0.51 during trading hours on Monday, hitting $160.17. The company's stock had a trading volume of 1,295,202 shares, compared to its average volume of 1,108,189. TKO Group Holdings, Inc. has a 1-year low of $98.99 and a 1-year high of $179.09. The business has a fifty day moving average of $151.62 and a 200 day moving average of $146.45. The company has a market capitalization of $27.42 billion, a PE ratio of -381.35 and a beta of 0.73. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO - Get Free Report) last released 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. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.07 billion. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.26) earnings per share. As a group, equities analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.52 dividend on an annualized basis and a yield of 0.95%. TKO Group's payout ratio is currently 77.16%.

Analysts Set New Price Targets

Several brokerages recently commented on TKO. 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. Susquehanna began coverage on shares of TKO Group in a research report on Monday, April 28th. They set a "positive" rating and a $180.00 price target for the company. Benchmark reaffirmed a "hold" rating on shares of TKO Group in a research report on Monday, March 3rd. Seaport Res Ptn raised shares of TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Guggenheim upped their price target on shares of TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $164.25.

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.