Retirement Systems of Alabama Sells 66,603 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Retirement Systems of Alabama cut its position in TKO Group Holdings, Inc. (NYSE:TKO) by 82.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,308 shares of the company’s stock after selling 66,603 shares during the quarter. Retirement Systems of Alabama’s holdings in TKO Group were worth $2,186,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TKO. Sentry Investment Management LLC bought a new position in TKO Group in the first quarter valued at about $25,000. 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 valued at $26,000 after purchasing an additional 151 shares during the last quarter. Farther Finance Advisors LLC raised its position in TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock valued at $33,000 after purchasing an additional 122 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in TKO Group by 229.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company’s stock valued at $37,000 after purchasing an additional 170 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in TKO Group in the fourth quarter valued at about $38,000. 89.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on TKO shares. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Pivotal Research restated a “buy” rating and set a $195.00 price objective (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. Sanford C. Bernstein began coverage on TKO Group in a research report on Wednesday, June 4th. They set an “outperform” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on TKO Group from $158.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price objective on TKO Group from $170.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.08.

Insider Buying and Selling

In other news, Director Peter C. B. Bynoe acquired 980 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the acquisition, the director now directly owns 2,747 shares in the company, valued at $465,863.73. The trade was a 55.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the acquisition, the insider now 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. 61.30% of the stock is currently owned by insiders.

TKO Group Trading Down 1.1%

NYSE TKO opened at $174.97 on Thursday. The business has a 50 day simple moving average of $162.81 and a 200 day simple moving average of $154.48. TKO Group Holdings, Inc. has a one year low of $102.46 and a one year high of $179.09. The stock has a market capitalization of $34.63 billion, a P/E ratio of 88.82 and a beta of 0.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25.

TKO Group (NYSE:TKO) last released its earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm posted ($1.26) earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, June 13th. This represents a $1.52 annualized dividend and a yield of 0.87%. TKO Group’s dividend payout ratio is currently 77.16%.

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.