The Manufacturers Life Insurance Company Cuts Stock Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

The Manufacturers Life Insurance Company lowered its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,433 shares of the company’s stock after selling 1,122 shares during the period. The Manufacturers Life Insurance Company’s holdings in TKO Group were worth $8,020,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in TKO Group by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,289 shares of the company’s stock valued at $66,691,000 after purchasing an additional 16,536 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TKO Group by 21.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company’s stock worth $2,836,000 after buying an additional 3,572 shares during the period. Twin Tree Management LP raised its holdings in TKO Group by 147.0% during the 4th quarter. Twin Tree Management LP now owns 123,713 shares of the company’s stock valued at $17,581,000 after buying an additional 73,617 shares during the last quarter. Park Avenue Securities LLC boosted its position in TKO Group by 59.2% during the 4th quarter. Park Avenue Securities LLC now owns 13,004 shares of the company’s stock valued at $1,848,000 after buying an additional 4,836 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in TKO Group in the 4th quarter worth $431,000. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TKO. Susquehanna assumed coverage on shares of TKO Group in a report on Monday, April 28th. They set a “positive” rating and a $180.00 target price for the company. Pivotal Research reiterated a “buy” rating and issued a $195.00 price objective (up previously from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Morgan Stanley lifted their price objective on TKO Group from $128.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. UBS Group raised 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, The Goldman Sachs Group lifted their price target on shares of TKO Group from $142.00 to $165.00 and gave the company a “buy” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.08.

TKO Group Trading Up 0.9 %

NYSE:TKO opened at $168.39 on Wednesday. TKO Group Holdings, Inc. has a one year low of $97.37 and a one year high of $179.09. The company’s 50-day simple moving average is $150.38 and its 200 day simple moving average is $145.12. The firm has a market capitalization of $28.82 billion, a P/E ratio of -400.93 and a beta of 0.73. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.38 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. TKO Group’s payout ratio is currently 7,600.00%.

Insider Activity at TKO Group

In related news, major shareholder Patrick Whitesell bought 177,861 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $165.99 per share, with a total value of $29,523,147.39. Following the completion of the purchase, the insider now owns 2,188,966 shares in the company, valued at approximately $363,346,466.34. The trade was a 8.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Kraft purchased 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $151.78 per share, with a total value of $3,035,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $3,035,600. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 665,035 shares of company stock valued at $112,930,837 in the last 90 days. Corporate 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.