Cerity Partners LLC Increases Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Cerity Partners LLC boosted its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 79.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,804 shares of the company’s stock after buying an additional 1,682 shares during the period. Cerity Partners LLC’s holdings in TKO Group were worth $511,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of TKO Group during the fourth quarter valued at approximately $104,613,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of TKO Group during the 4th quarter valued at $54,778,000. Alliancebernstein L.P. grew its position in shares of TKO Group by 277.4% in the 4th quarter. Alliancebernstein L.P. now owns 343,671 shares of the company’s stock worth $48,839,000 after buying an additional 252,613 shares during the period. Raymond James Financial Inc. bought a new position in shares of TKO Group in the 4th quarter worth about $33,922,000. Finally, Ninety One UK Ltd lifted its position in TKO Group by 4.1% during the 4th quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock valued at $589,985,000 after acquiring an additional 163,980 shares during the period. 89.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TKO. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Benchmark reissued a “hold” rating on shares of TKO Group in a report on Monday, March 3rd. Pivotal Research reaffirmed a “buy” rating and set a $195.00 price target (up previously from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. UBS Group raised their price objective on shares of TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Guggenheim upped their target price on shares of TKO Group from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.36.

TKO Group Price Performance

NYSE:TKO opened at $143.25 on Tuesday. The business’s 50-day simple moving average is $151.40 and its two-hundred day simple moving average is $142.69. TKO Group Holdings, Inc. has a 52 week low of $94.32 and a 52 week high of $179.09. The stock has a market cap of $24.52 billion, a PE ratio of -341.07 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.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid 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 1.06%. TKO Group’s payout ratio is 7,600.00%.

Insider Buying and Selling at TKO Group

In other news, Director Sonya E. Medina acquired 233 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was purchased at an average price of $142.93 per share, for a total transaction of $33,302.69. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $285,860. This trade represents a 13.19 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Kraft bought 3,500 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $140.69 per share, for a total transaction of $492,415.00. Following the completion of the transaction, the director now directly owns 23,500 shares of the company’s stock, valued at $3,306,215. This represents a 17.50 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 1,687,318 shares of company stock valued at $270,815,643 in the last three months. 53.80% of the stock is currently owned by corporate insiders.

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.