Rice Hall James & Associates LLC Reduces Position in TKO Group Holdings, Inc. (NYSE:TKO)

Rice Hall James & Associates LLC lessened its position in TKO Group Holdings, Inc. (NYSE:TKO) by 16.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 303,118 shares of the company’s stock after selling 61,480 shares during the period. TKO Group accounts for about 2.7% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 6th largest holding. Rice Hall James & Associates LLC’s holdings in TKO Group were worth $46,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of TKO. Norges Bank bought a new position in TKO Group in the 4th quarter worth $104,613,000. Ameriprise Financial Inc. raised its holdings in TKO Group by 57.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company’s stock worth $238,574,000 after acquiring an additional 611,178 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of TKO Group during the 1st quarter worth about $71,834,000. Steadfast Capital Management LP increased its holdings in shares of TKO Group by 146.9% during the 4th quarter. Steadfast Capital Management LP now owns 710,784 shares of the company’s stock worth $101,010,000 after purchasing an additional 422,900 shares during the period. Finally, Moore Capital Management LP increased its holdings in shares of TKO Group by 1,625.0% during the 4th quarter. Moore Capital Management LP now owns 418,286 shares of the company’s stock worth $59,443,000 after purchasing an additional 394,038 shares during the period. Institutional investors own 89.79% of the company’s stock.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Nick Khan sold 9,519 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.46, for a total value of $1,508,380.74. Following the transaction, the director directly owned 210,967 shares in the company, valued at $33,429,830.82. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of TKO Group stock in a transaction dated Tuesday, June 3rd. The shares were bought at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the transaction, the insider directly owned 4,158,517 shares of the company’s stock, valued at $658,376,411.44. This represents a 61.22% increase in their position. The disclosure for this purchase can be found here. Company insiders own 53.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of TKO Group in a report on Wednesday, June 4th. They set an “outperform” rating and a $190.00 price objective on the stock. Guggenheim boosted their price objective on shares of TKO Group from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Susquehanna assumed coverage on shares of TKO Group in a report on Monday, April 28th. They set a “positive” rating and a $180.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of TKO Group from $170.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Northcoast Research downgraded shares of TKO Group from a “buy” rating to a “neutral” rating in a report on Thursday. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.08.

TKO Group Price Performance

Shares of TKO Group stock opened at $171.81 on Monday. The firm has a market cap of $34.00 billion, a P/E ratio of 87.21 and a beta of 0.73. TKO Group Holdings, Inc. has a twelve month low of $102.46 and a twelve month high of $182.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s 50-day simple moving average is $167.59 and its 200-day simple moving average is $157.35.

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

TKO Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.88%. TKO Group’s dividend payout ratio (DPR) is presently 77.16%.

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.