State of Tennessee Department of Treasury Sells 738 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

State of Tennessee Department of Treasury trimmed its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,162 shares of the company’s stock after selling 738 shares during the quarter. State of Tennessee Department of Treasury’s holdings in TKO Group were worth $3,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TKO. Vanguard Group Inc. boosted its position in shares of TKO Group by 1.7% during the fourth 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 in the last quarter. Ninety One UK Ltd grew its position 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 buying an additional 163,980 shares during the period. Independent Franchise Partners LLP increased its stake 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 in the last quarter. Massachusetts Financial Services Co. MA lifted 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 valued at $249,047,000 after acquiring an additional 47,768 shares during the period. Finally, Geode Capital Management LLC boosted its stake in TKO Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,255,099 shares of the company’s stock worth $178,777,000 after acquiring an additional 13,181 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Stock Up 1.3 %

TKO opened at $157.27 on Friday. The stock has a market capitalization of $26.92 billion, a price-to-earnings ratio of -374.45 and a beta of 0.90. The firm has a 50 day moving average price of $149.68 and a 200-day moving average price of $143.31. TKO Group Holdings, Inc. has a twelve month low of $94.63 and a twelve month high of $179.09. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 0.97%. TKO Group’s payout ratio is 7,600.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TKO. Guggenheim reaffirmed a “buy” rating and set a $175.00 target price on shares of TKO Group in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on TKO Group from $142.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Morgan Stanley increased their target price on TKO Group from $128.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. UBS Group lifted their price target on TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Benchmark reissued a “hold” rating on shares of TKO Group in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.36.

Insider Transactions at TKO Group

In other TKO Group news, major shareholder Patrick Whitesell acquired 99,996 shares of the stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of $156.60 per share, for a total transaction of $15,659,373.60. Following the purchase, the insider now directly owns 1,539,589 shares of the company’s stock, valued at approximately $241,099,637.40. This trade represents a 6.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sonya E. Medina purchased 233 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of $142.93 per share, for a total transaction of $33,302.69. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $285,860. The trade was a 13.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 1,345,370 shares of company stock worth $219,805,951 in the last ninety days. Insiders own 53.80% of the company’s stock.

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.