Cetera Investment Advisers Lowers Stock Position in TKO Group Holdings, Inc. (NYSE:TKO)

Cetera Investment Advisers reduced its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 51.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,445 shares of the company’s stock after selling 4,629 shares during the quarter. Cetera Investment Advisers’ holdings in TKO Group were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TKO. Sentry Investment Management LLC bought a new position in TKO Group during the first quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC bought a new position in TKO Group during the first quarter valued at approximately $27,000. Farther Finance Advisors LLC grew its position in TKO Group by 129.8% during the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock valued at $33,000 after acquiring an additional 122 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in TKO Group by 229.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company’s stock valued at $37,000 after acquiring an additional 170 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in TKO Group during the first quarter valued at approximately $38,000. 89.79% of the stock is currently owned by institutional investors.

TKO Group Stock Performance

Shares of TKO stock opened at $191.30 on Friday. The stock has a fifty day moving average of $171.58 and a 200 day moving average of $161.58. TKO Group Holdings, Inc. has a 52 week low of $113.16 and a 52 week high of $194.76. The firm has a market capitalization of $37.86 billion, a price-to-earnings ratio of 79.05 and a beta of 0.72. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business earned $0.72 EPS. The business’s revenue was up 53.7% compared to the same quarter last year. As a group, research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. TKO Group’s dividend payout ratio (DPR) is presently 62.81%.

Analysts Set New Price Targets

A number of research analysts have commented on TKO shares. Sanford C. Bernstein started coverage on shares of TKO Group in a research report on Wednesday, June 4th. They set an “outperform” rating and a $190.00 price target on the stock. UBS Group increased their price target on shares of TKO Group from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley restated an “outperform” rating on shares of TKO Group in a report on Sunday. Northcoast Research cut shares of TKO Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of TKO Group from $158.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.15.

Insider Buying and Selling

In other TKO Group news, 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 transaction of $1,593,099.84. Following the completion of the transaction, the director owned 146,975 shares of the company’s stock, valued at approximately $24,597,736. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the transaction, the insider directly owned 4,158,517 shares of the company’s stock, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The disclosure for this purchase can be found here. Insiders sold 73,725 shares of company stock valued at $12,501,561 over the last quarter. 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.