Corebridge Financial Inc. Cuts Position in TKO Group Holdings, Inc. (NYSE:TKO)

Corebridge Financial Inc. trimmed its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,505 shares of the company’s stock after selling 3,283 shares during the period. Corebridge Financial Inc.’s holdings in TKO Group were worth $10,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TKO. M&T Bank Corp increased its position in TKO Group by 2.4% in the fourth quarter. M&T Bank Corp now owns 2,733 shares of the company’s stock worth $389,000 after purchasing an additional 64 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of TKO Group by 28.2% in the 4th quarter. Blue Trust Inc. now owns 332 shares of the company’s stock worth $47,000 after buying an additional 73 shares during the last quarter. US Bancorp DE raised its position in shares of TKO Group by 18.0% during the 4th quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $80,000 after buying an additional 86 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of TKO Group by 3.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,070 shares of the company’s stock valued at $379,000 after acquiring an additional 97 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in TKO Group by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company’s stock worth $2,629,000 after acquiring an additional 100 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.

Insider Activity

In other TKO Group news, insider Mark S. Shapiro sold 31,666 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $141.94, for a total transaction of $4,494,672.04. Following the transaction, the insider now owns 73,677 shares of the company’s stock, valued at approximately $10,457,713.38. This trade represents a 30.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew M. Schleimer sold 5,419 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $141.94, for a total transaction of $769,172.86. Following the completion of the sale, the chief financial officer now directly owns 6,995 shares of the company’s stock, valued at $992,870.30. The trade was a 43.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 1,921,383 shares of company stock worth $304,417,051 and have sold 71,457 shares worth $10,153,456. Insiders own 53.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their price objective on TKO Group from $128.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. UBS Group raised their price target on TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on shares of TKO Group from $142.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on shares of TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.00.

TKO Group Stock Up 0.0 %

Shares of NYSE TKO opened at $154.66 on Thursday. The stock has a 50 day moving average price of $155.00 and a 200 day moving average price of $138.97. The firm has a market capitalization of $26.47 billion, a price-to-earnings ratio of -368.24 and a beta of 1.08. TKO Group Holdings, Inc. has a 52-week low of $85.01 and a 52-week 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, March 14th. TKO Group’s payout ratio is 7,600.00%.

TKO Group 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.