Lazard Asset Management LLC Sells 24,529 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Lazard Asset Management LLC cut its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 97.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 518 shares of the company’s stock after selling 24,529 shares during the period. Lazard Asset Management LLC’s holdings in TKO Group were worth $73,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 valued at $949,449,000 after purchasing an additional 114,096 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of TKO Group by 4.1% in the 4th quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock worth $589,985,000 after acquiring an additional 163,980 shares during the last quarter. Independent Franchise Partners LLP lifted 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 worth $484,473,000 after acquiring an additional 235,420 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $249,047,000 after purchasing an additional 47,768 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of TKO Group by 57.3% during the 4th 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 during the last quarter. Institutional investors own 89.79% of the company’s stock.

TKO Group Price Performance

TKO stock opened at $157.78 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. TKO Group Holdings, Inc. has a 1 year low of $100.76 and a 1 year high of $179.09. The firm has a 50-day moving average of $154.75 and a 200 day moving average of $149.19. The company has a market cap of $27.01 billion, a P/E ratio of -375.67 and a beta of 0.73.

TKO Group (NYSE:TKO) last announced its earnings results 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.07 billion. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.26) EPS. On average, sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors 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 dividend yield of 0.96%. TKO Group’s payout ratio is 77.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TKO. JPMorgan Chase & Co. boosted their target price on TKO Group from $158.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on TKO Group from $170.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Guggenheim increased their price target on shares of TKO Group from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Pivotal Research restated a “buy” rating and issued a $195.00 price objective (up previously from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

Insider Activity

In other news, Director Sonya E. Medina bought 233 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was acquired at an average cost of $142.93 per share, with a total value of $33,302.69. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $285,860. This represents a 13.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Kraft bought 20,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $151.78 per share, for a total transaction of $3,035,600.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $3,035,600. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 23,733 shares of company stock worth $3,561,318. Insiders own 61.30% 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.