Comerica Bank Reduces Stock Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Comerica Bank lessened its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,887 shares of the company’s stock after selling 519 shares during the period. Comerica Bank’s holdings in TKO Group were worth $3,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TKO. Smartleaf Asset Management LLC raised its position in TKO Group by 559.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 178 shares of the company’s stock worth $26,000 after acquiring an additional 151 shares during the period. Geneos Wealth Management Inc. bought a new position in TKO Group in the 4th quarter worth $32,000. Game Plan Financial Advisors LLC lifted its position in TKO Group by 172.2% during the fourth quarter. Game Plan Financial Advisors LLC now owns 245 shares of the company’s stock valued at $35,000 after purchasing an additional 155 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in TKO Group during the fourth quarter valued at $38,000. Finally, UMB Bank n.a. grew its holdings in TKO Group by 72.8% during the fourth quarter. UMB Bank n.a. now owns 273 shares of the company’s stock valued at $39,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TKO. Susquehanna began coverage on TKO Group in a research report on Monday, April 28th. They set a “positive” rating and a $180.00 price objective on the stock. Pivotal Research reiterated a “buy” rating and issued a $195.00 price target (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. Benchmark restated a “hold” rating on shares of TKO Group in a research report on Monday, March 3rd. UBS Group increased their price target on TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Guggenheim reissued a “buy” rating and set a $175.00 price target on shares of TKO Group in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $161.08.

TKO Group Stock Performance

NYSE TKO opened at $168.39 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. TKO Group Holdings, Inc. has a 1-year low of $97.37 and a 1-year high of $179.09. The business has a 50 day simple moving average of $150.38 and a two-hundred day simple moving average of $145.12. The stock has a market capitalization of $28.82 billion, a PE ratio of -400.93 and a beta of 0.73.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, March 14th. TKO Group’s dividend payout ratio (DPR) is presently 7,600.00%.

Insider Buying and Selling

In other TKO Group news, CEO Ariel Emanuel acquired 72,970 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was acquired at an average cost of $160.59 per share, with a total value of $11,718,252.30. Following the purchase, the chief executive officer now directly owns 2,011,105 shares of the company’s stock, valued at approximately $322,963,351.95. This represents a 3.76 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Kraft bought 20,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $151.78 per share, for a total transaction of $3,035,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $3,035,600. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 665,035 shares of company stock worth $112,930,837. Insiders own 53.80% of the company’s stock.

TKO Group 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.