Maryland State Retirement & Pension System Sells 825 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Maryland State Retirement & Pension System reduced its position in TKO Group Holdings, Inc. (NYSE:TKO) by 18.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,687 shares of the company’s stock after selling 825 shares during the period. Maryland State Retirement & Pension System’s holdings in TKO Group were worth $563,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TKO. Sentry Investment Management LLC bought a new position in shares of TKO Group in the 1st quarter worth $25,000. Hemington Wealth Management lifted its holdings in shares of TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of TKO Group in the 1st quarter worth $26,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of TKO Group in the 1st quarter worth $27,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock worth $33,000 after purchasing an additional 122 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.

TKO Group Trading Up 0.0%

Shares of TKO Group stock opened at $191.30 on Friday. TKO Group Holdings, Inc. has a 1 year low of $113.16 and a 1 year high of $194.76. The firm has a market cap of $37.86 billion, a PE ratio of 79.05 and a beta of 0.72. The stock has a fifty day moving average price of $171.58 and a 200-day moving average price of $161.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30.

TKO Group (NYSE:TKO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business posted $0.72 EPS. The company’s revenue was up 53.7% compared to the same quarter last year. Equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 annualized dividend and a yield of 0.8%. TKO Group’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analysts Forecast Growth

TKO has been the subject of a number of analyst reports. Guggenheim increased their price target on TKO Group from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Capital set a $210.00 price target on TKO Group and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group increased their price target on TKO Group from $170.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Bank of America increased their price target on TKO Group from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Susquehanna initiated coverage on TKO Group in a research report on Monday, April 28th. They issued a “positive” rating and a $180.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.15.

Insider Buying and Selling

In other news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was bought at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the acquisition, the insider owned 4,158,517 shares in the company, valued at $658,376,411.44. The trade was a 61.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $167.36, for a total value of $1,593,099.84. Following the completion of the sale, the director directly owned 146,975 shares of the company’s stock, valued at approximately $24,597,736. This trade represents a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,725 shares of company stock valued at $12,501,561. 61.30% of the stock is owned by insiders.

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.