TKO Group (NYSE:TKO) Sets New 12-Month High - Here's Why

TKO Group Holdings, Inc. (NYSE:TKO - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $163.71 and last traded at $163.01, with a volume of 903183 shares trading hands. The stock had previously closed at $162.96.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TKO shares. Benchmark restated a "hold" rating on shares of TKO Group in a research note on Monday, March 3rd. Seaport Res Ptn raised TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Morgan Stanley boosted 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. Susquehanna started coverage on shares of TKO Group in a report on Monday, April 28th. They set a "positive" rating and a $180.00 price objective for the company. Finally, UBS Group boosted their target price on shares of TKO Group from $135.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Two 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $161.08.

TKO Group Stock Performance

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $28.79 billion, a PE ratio of -400.06 and a beta of 0.90. The business's 50 day moving average is $150.05 and its 200 day moving average is $144.96.

TKO Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a dividend yield of 0.90%. TKO Group's payout ratio is 7,600.00%.

Insider Buying and Selling

In other news, major shareholder Patrick Whitesell bought 177,861 shares of the stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $165.99 per share, for a total transaction of $29,523,147.39. Following the completion of the purchase, the insider now directly owns 2,188,966 shares in the company, valued at approximately $363,346,466.34. The trade was a 8.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Kraft bought 20,000 shares of TKO Group stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $151.78 per share, with a total value of $3,035,600.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $3,035,600. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 746,054 shares of company stock valued at $125,871,192 over the last three months. 53.80% of the stock is owned by company insiders.

Institutional Trading of TKO Group

A number of hedge funds have recently added to or reduced their stakes in TKO. Norges Bank acquired a new stake in TKO Group in the 4th quarter valued at $104,613,000. Ameriprise Financial Inc. lifted its holdings in TKO Group by 57.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock valued at $238,574,000 after purchasing an additional 611,178 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of TKO Group in the first quarter valued at about $71,834,000. Steadfast Capital Management LP raised its position in shares of TKO Group by 146.9% during the 4th quarter. Steadfast Capital Management LP now owns 710,784 shares of the company's stock worth $101,010,000 after purchasing an additional 422,900 shares during the last quarter. Finally, Moore Capital Management LP boosted its holdings in TKO Group by 1,625.0% in the 4th quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock worth $59,443,000 after buying an additional 394,038 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

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.