California Public Employees Retirement System Sells 6,989 Shares of TKO Group Holdings, Inc. $TKO

California Public Employees Retirement System lowered its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,867 shares of the company’s stock after selling 6,989 shares during the period. California Public Employees Retirement System owned about 0.07% of TKO Group worth $24,721,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. grew its position in TKO Group by 350.0% during the second quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after buying an additional 105 shares during the period. Golden State Wealth Management LLC boosted its stake in TKO Group by 840.0% in the second quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock valued at $26,000 after acquiring an additional 126 shares during the last quarter. Eastern Bank bought a new position in shares of TKO Group during the 2nd quarter valued at approximately $34,000. Cullen Frost Bankers Inc. purchased a new stake in shares of TKO Group during the 2nd quarter worth approximately $36,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of TKO Group in the 2nd quarter worth approximately $45,000. 89.79% of the stock is currently owned by institutional investors.

TKO Group Trading Up 3.7%

Shares of TKO Group stock opened at $204.16 on Friday. The company’s 50-day moving average price is $189.32 and its 200-day moving average price is $182.54. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.42. TKO Group Holdings, Inc. has a 12-month low of $133.07 and a 12-month high of $212.49. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 78.22 and a beta of 0.65.

TKO Group (NYSE:TKO) last posted its earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.11). TKO Group had a return on equity of 2.57% and a net margin of 5.27%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company posted $0.28 EPS. The business’s revenue was down 27.3% on a year-over-year basis. On average, equities analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, December 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 1.5%. TKO Group’s dividend payout ratio (DPR) is presently 116.48%.

TKO Group declared that its Board of Directors has approved a share buyback program on Monday, September 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TKO has been the subject of several research reports. BTIG Research reissued a “buy” rating and set a $235.00 price objective on shares of TKO Group in a report on Tuesday, November 18th. Citigroup lifted their price objective on TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 15th. JPMorgan Chase & Co. boosted their price objective on TKO Group from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of TKO Group in a research note on Monday. Finally, Cowen restated a “buy” rating on shares of TKO Group in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, TKO Group currently has an average rating of “Moderate Buy” and a consensus price target of $224.50.

Insiders Place Their Bets

In other TKO Group news, Director Peter C. B. Bynoe bought 740 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were acquired at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the purchase, the director directly owned 5,187 shares of the company’s stock, valued at $1,052,961. The trade was a 16.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shane Kapral sold 254 shares of TKO Group stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $202.41, for a total value of $51,412.14. Following the sale, the chief financial officer owned 1,520 shares of the company’s stock, valued at approximately $307,663.20. This trade represents a 14.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,573 shares of company stock worth $5,725,130 in the last ninety days. 61.30% of the stock is currently owned by insiders.

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.