Avantax Advisory Services Inc. Sells 189 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Avantax Advisory Services Inc. trimmed its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,780 shares of the company’s stock after selling 189 shares during the quarter. Avantax Advisory Services Inc.’s holdings in TKO Group were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TKO. Ninety One UK Ltd increased its stake in TKO Group by 4.1% during the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock valued at $589,985,000 after acquiring an additional 163,980 shares during the period. State Street Corp increased its stake in shares of TKO Group by 10.4% in the third quarter. State Street Corp now owns 2,052,916 shares of the company’s stock valued at $253,966,000 after buying an additional 192,602 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of TKO Group by 29.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock valued at $210,892,000 after buying an additional 383,869 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of TKO Group by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,246,338 shares of the company’s stock valued at $154,185,000 after purchasing an additional 13,148 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of TKO Group by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,241,918 shares of the company’s stock valued at $153,931,000 after buying an additional 85,160 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

Insider Activity at TKO Group

In other news, CFO Andrew M. Schleimer sold 5,419 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $141.94, for a total transaction of $769,172.86. Following the completion of the transaction, the chief financial officer now directly owns 6,995 shares in the company, valued at $992,870.30. This represents a 43.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sonya E. Medina acquired 233 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were bought at an average price of $142.93 per share, for a total transaction of $33,302.69. Following the purchase, the director now owns 2,000 shares in the company, valued at approximately $285,860. This represents a 13.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,921,383 shares of company stock valued at $304,417,051 and have sold 71,457 shares valued at $10,153,456. 53.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TKO. Pivotal Research reaffirmed a “buy” rating and issued a $195.00 target price (up previously from $145.00) on shares of TKO Group in a research note on Thursday, February 27th. Morgan Stanley raised their price objective on shares of TKO Group from $128.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their target price on TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. UBS Group upped their target price on shares of TKO Group from $135.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Seaport Res Ptn raised shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

TKO Group Price Performance

Shares of NYSE TKO opened at $149.77 on Friday. The company has a fifty day moving average price of $154.33 and a 200 day moving average price of $138.18. The firm has a market cap of $25.64 billion, a PE ratio of -356.59 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. TKO Group Holdings, Inc. has a 1-year low of $84.88 and a 1-year high of $179.09.

TKO Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.01%. TKO Group’s payout ratio is presently 7,600.00%.

About TKO Group

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.