TKO Group Holdings, Inc. (NYSE:TKO) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 15.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,210 shares of the company’s stock after selling 7,385 shares during the quarter. New York State Teachers Retirement System’s holdings in TKO Group were worth $5,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TKO. Vanguard Group Inc. grew its stake in TKO Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,681,087 shares of the company’s stock worth $949,449,000 after buying an additional 114,096 shares during the period. Independent Franchise Partners LLP lifted its holdings in shares of TKO Group by 7.4% during the 4th quarter. Independent Franchise Partners LLP now owns 3,409,140 shares of the company’s stock valued at $484,473,000 after acquiring an additional 235,420 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in TKO Group by 2.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,752,496 shares of the company’s stock worth $249,047,000 after purchasing an additional 47,768 shares during the period. Ameriprise Financial Inc. boosted its position in TKO Group by 57.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company’s stock worth $238,574,000 after purchasing an additional 611,178 shares during the period. Finally, Geode Capital Management LLC increased its holdings in TKO Group by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,255,099 shares of the company’s stock valued at $178,777,000 after purchasing an additional 13,181 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Susquehanna started coverage on TKO Group in a research note on Monday, April 28th. They set a “positive” rating and a $180.00 price objective on the stock. The Goldman Sachs Group boosted their price target on TKO Group from $170.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. increased their price objective on shares of TKO Group from $158.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Guggenheim lifted their price objective on shares of TKO Group from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Sanford C. Bernstein began coverage on shares of TKO Group in a research note on Wednesday, June 4th. They issued an “outperform” rating and a $190.00 target price for the company. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TKO Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.08.

TKO Group Price Performance

Shares of NYSE:TKO opened at $176.60 on Friday. The firm has a market capitalization of $34.95 billion, a PE ratio of 89.64 and a beta of 0.73. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.29. TKO Group Holdings, Inc. has a 1-year low of $102.46 and a 1-year high of $182.60. The business’s 50 day moving average is $166.61 and its 200-day moving average is $156.25.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.55 by $0.14. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned ($1.26) EPS. TKO Group’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, June 13th. TKO Group’s dividend payout ratio is presently 77.16%.

Insider Transactions at TKO Group

In other news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of TKO Group stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the acquisition, the insider owned 4,158,517 shares in the company, valued at $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. B. Bynoe bought 980 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the purchase, the director directly owned 2,747 shares of the company’s stock, valued at approximately $465,863.73. This trade represents a 55.46% increase in their position. The disclosure for this purchase can be found here. 61.30% of the stock is owned by company 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.