Cerity Partners LLC Has $318,000 Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Cerity Partners LLC lowered its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 45.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,081 shares of the company’s stock after selling 1,723 shares during the period. Cerity Partners LLC’s holdings in TKO Group were worth $318,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TKO. Financial Gravity Asset Management Inc. bought a new stake in TKO Group in the 1st quarter valued at $38,000. Greenleaf Trust bought a new stake in TKO Group in the 1st quarter valued at $232,000. DekaBank Deutsche Girozentrale bought a new stake in TKO Group in the 1st quarter valued at $122,000. Ninety One SA PTY Ltd increased its holdings in TKO Group by 3.4% in the 1st quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company’s stock valued at $10,902,000 after buying an additional 2,330 shares during the period. Finally, Ninety One UK Ltd increased its holdings in TKO Group by 2.1% in the 1st quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company’s stock valued at $647,727,000 after buying an additional 87,165 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

TKO Group Trading Up 1.2%

Shares of TKO Group stock opened at $170.05 on Monday. The business has a fifty day simple moving average of $168.55 and a two-hundred day simple moving average of $159.24. TKO Group Holdings, Inc. has a 1 year low of $102.46 and a 1 year high of $182.60. The company has a market capitalization of $33.65 billion, a price-to-earnings ratio of 86.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share (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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted ($1.26) EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, June 13th. TKO Group’s dividend payout ratio is currently 77.16%.

Insider Transactions at TKO Group

In related news, Director Peter C. B. Bynoe purchased 980 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the transaction, the director owned 2,747 shares of the company’s stock, valued at approximately $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nick Khan sold 9,519 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $167.36, for a total value of $1,593,099.84. Following the completion of the transaction, the director owned 146,975 shares in the company, valued at $24,597,736. The trade was a 6.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,725 shares of company stock valued at $12,501,561. 53.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TKO. Sanford C. Bernstein began coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an “outperform” rating and a $190.00 target price on the stock. Northcoast Research lowered shares of TKO Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 10th. Susquehanna began coverage on shares of TKO Group in a report on Monday, April 28th. They issued a “positive” rating and a $180.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of TKO Group from $170.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Guggenheim upped their price target on shares of TKO Group from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.33.

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.