Kendall Capital Management Lowers Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Kendall Capital Management trimmed its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,760 shares of the company’s stock after selling 385 shares during the period. Kendall Capital Management’s holdings in TKO Group were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in TKO. Massachusetts Financial Services Co. MA lifted its position 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 acquiring an additional 383,869 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of TKO Group in the fourth quarter valued at about $33,922,000. State Street Corp lifted its position 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 acquiring an additional 192,602 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of TKO Group by 4.1% in the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock worth $589,985,000 after buying an additional 163,980 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of TKO Group by 7.4% in the third quarter. Geode Capital Management LLC now owns 1,241,918 shares of the company’s stock worth $153,931,000 after buying an additional 85,160 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. The Goldman Sachs Group boosted their target price on TKO Group from $142.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Guggenheim boosted their target price on TKO Group from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Benchmark reiterated a “hold” rating on shares of TKO Group in a research report on Monday, March 3rd. Citigroup boosted their target price on TKO Group from $137.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, Pivotal Research reiterated a “buy” rating and issued a $195.00 target price (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Insider Activity

In other TKO Group news, major shareholder Patrick Whitesell bought 156,446 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $175.60 per share, with a total value of $27,471,917.60. Following the completion of the purchase, the insider now owns 2,461,668 shares in the company, valued at $432,268,900.80. This represents a 6.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ariel Emanuel bought 117,769 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were acquired at an average cost of $175.40 per share, for a total transaction of $20,656,682.60. Following the purchase, the chief executive officer now owns 2,579,437 shares of the company’s stock, valued at approximately $452,433,249.80. The trade was a 4.78 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,498,297 shares of company stock valued at $387,671,461 and have sold 71,457 shares valued at $10,153,456. Insiders own 53.80% of the company’s stock.

TKO Group Trading Down 2.4 %

TKO opened at $143.39 on Monday. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of -341.40 and a beta of 1.08. The stock’s 50 day moving average price is $153.64 and its 200-day moving average price is $136.37. TKO Group Holdings, Inc. has a one year low of $79.32 and a one year high of $179.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. TKO Group’s dividend payout ratio is 7,600.00%.

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.