Harvest Fund Management Co. Ltd Purchases Shares of 6,602 TKO Group Holdings, Inc. (NYSE:TKO)

Harvest Fund Management Co. Ltd acquired a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,602 shares of the company’s stock, valued at approximately $939,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TKO. Massachusetts Financial Services Co. MA increased its holdings in shares of TKO Group by 29.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company’s stock worth $210,892,000 after buying an additional 383,869 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of TKO Group during the 4th quarter worth $33,922,000. State Street Corp increased its holdings in shares of TKO Group by 10.4% during the 3rd quarter. State Street Corp now owns 2,052,916 shares of the company’s stock worth $253,966,000 after buying an additional 192,602 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of TKO Group by 4.1% during the 4th 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 during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of TKO Group by 7.4% during the 3rd 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 during the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TKO. Guggenheim upped their price target on shares of TKO Group from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. UBS Group upped their price target on shares of TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Benchmark reaffirmed a “hold” rating on shares of TKO Group in a research report on Monday, March 3rd. Morgan Stanley upped their price target on shares of TKO Group from $128.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. 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 investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Insider Transactions 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 transaction, the chief financial officer now owns 6,995 shares of the company’s stock, valued at approximately $992,870.30. This trade represents a 43.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark S. Shapiro sold 31,666 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $141.94, for a total transaction of $4,494,672.04. Following the sale, the insider now owns 73,677 shares in the company, valued at approximately $10,457,713.38. This trade represents a 30.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 1,921,383 shares of company stock valued at $304,417,051 and have sold 71,457 shares valued at $10,153,456. Corporate insiders own 53.80% of the company’s stock.

TKO Group Stock Performance

NYSE:TKO opened at $150.45 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. TKO Group Holdings, Inc. has a 1-year low of $84.88 and a 1-year high of $179.09. The firm has a 50-day moving average of $154.14 and a two-hundred day moving average of $137.82. The stock has a market cap of $25.75 billion, a P/E ratio of -358.20 and a beta of 1.08.

TKO Group Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.01%. TKO Group’s 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.