27,900 Shares in TKO Group Holdings, Inc. (NYSE:TKO) Bought by Highland Capital Management LLC

Highland Capital Management LLC bought a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,900 shares of the company’s stock, valued at approximately $4,263,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of TKO Group during the 4th quarter worth about $104,613,000. Ameriprise Financial Inc. increased its position in TKO Group by 57.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company’s stock worth $238,574,000 after buying an additional 611,178 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in TKO Group during the first quarter worth approximately $71,834,000. Steadfast Capital Management LP increased its position in TKO Group by 146.9% during the fourth quarter. Steadfast Capital Management LP now owns 710,784 shares of the company’s stock worth $101,010,000 after buying an additional 422,900 shares during the last quarter. Finally, Moore Capital Management LP increased its position in TKO Group by 1,625.0% during the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company’s stock worth $59,443,000 after buying an additional 394,038 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Guggenheim boosted their target price on TKO Group from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their target price on TKO Group from $158.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Sanford C. Bernstein began coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an “outperform” rating and a $190.00 price objective on the stock. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Susquehanna assumed coverage on shares of TKO Group in a report on Monday, April 28th. They issued a “positive” rating and a $180.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.08.

TKO Group Stock Performance

Shares of NYSE TKO opened at $179.21 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average price is $163.94 and its two-hundred day moving average price is $154.99. TKO Group Holdings, Inc. has a one year low of $102.46 and a one year high of $179.39. The firm has a market cap of $35.47 billion, a price-to-earnings ratio of 90.97 and a beta of 0.70.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.55 by $0.14. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company posted ($1.26) earnings per share. TKO Group’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.85%. TKO Group’s payout ratio is presently 77.16%.

Insiders Place Their Bets

In other news, Director Peter C. B. Bynoe acquired 980 shares of TKO Group stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the purchase, the director now directly owns 2,747 shares of the company’s stock, valued at approximately $465,863.73. This represents a 55.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of TKO Group stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the purchase, the insider now directly owns 4,158,517 shares of the company’s stock, valued at approximately $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 61.30% 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.