First Trust Advisors LP Reduces Stock Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

First Trust Advisors LP decreased its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 225,102 shares of the company's stock after selling 15,065 shares during the period. First Trust Advisors LP owned about 0.13% of TKO Group worth $31,989,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of TKO Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 6,681,087 shares of the company's stock worth $949,449,000 after purchasing an additional 114,096 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of TKO Group by 4.1% during the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company's stock valued at $589,985,000 after buying an additional 163,980 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of TKO Group by 7.4% in the 4th quarter. Independent Franchise Partners LLP now owns 3,409,140 shares of the company's stock valued at $484,473,000 after buying an additional 235,420 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of TKO Group by 2.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,752,496 shares of the company's stock worth $249,047,000 after buying an additional 47,768 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of TKO Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,255,099 shares of the company's stock worth $178,777,000 after acquiring an additional 13,181 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

TKO Group Price Performance

Shares of TKO stock traded up $0.05 during trading hours on Wednesday, hitting $163.01. 903,221 shares of the company's stock were exchanged, compared to its average volume of 1,103,431. TKO Group Holdings, Inc. has a fifty-two week low of $94.72 and a fifty-two week high of $179.09. The firm has a market cap of $27.90 billion, a P/E ratio of -388.12 and a beta of 0.90. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $149.65 and a two-hundred day moving average of $143.93.

TKO Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Friday, March 14th. TKO Group's dividend payout ratio is presently 7,600.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of TKO Group from $128.00 to $160.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. Seaport Res Ptn raised TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Pivotal Research reissued a "buy" rating and issued a $195.00 price target (up previously from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Benchmark restated a "hold" rating on shares of TKO Group in a research note on Monday, March 3rd. Finally, Susquehanna initiated coverage on shares of TKO Group in a research report on Monday. They issued a "positive" rating and a $180.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $161.08.

Insider Buying and Selling at TKO Group

In other news, major shareholder Patrick Whitesell purchased 80,758 shares of the stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $156.79 per share, with a total value of $12,662,046.82. Following the completion of the purchase, the insider now directly owns 1,686,368 shares of the company's stock, valued at approximately $264,405,638.72. The trade was a 5.03 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ariel Emanuel acquired 66,021 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $158.39 per share, for a total transaction of $10,457,066.19. Following the acquisition, the chief executive officer now directly owns 1,605,610 shares in the company, valued at $254,312,567.90. This represents a 4.29 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,063,581 shares of company stock valued at $175,882,084 over the last ninety days. Corporate insiders own 53.80% of the company's stock.

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.