KLP Kapitalforvaltning AS Takes Position in TKO Group Holdings, Inc. (NYSE:TKO)

KLP Kapitalforvaltning AS bought a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the 4th quarter, HoldingsChannel reports. The firm bought 15,300 shares of the company’s stock, valued at approximately $2,174,000.

Other hedge funds also recently added to or reduced their stakes in the company. Ninety One UK Ltd boosted its holdings in 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 acquiring an additional 163,980 shares in the last quarter. State Street Corp raised its position in shares of TKO Group by 10.4% in the 3rd quarter. State Street Corp now owns 2,052,916 shares of the company’s stock valued at $253,966,000 after purchasing an additional 192,602 shares during the last quarter. Principal Financial Group Inc. boosted its stake in TKO Group by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,246,338 shares of the company’s stock worth $154,185,000 after purchasing an additional 13,148 shares in the last quarter. Geode Capital Management LLC grew its position in 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 purchasing an additional 85,160 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in TKO Group by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,289 shares of the company’s stock worth $66,691,000 after purchasing an additional 16,536 shares during the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

TKO Group Stock Performance

TKO opened at $151.74 on Friday. The firm has a fifty day moving average price of $155.20 and a 200 day moving average price of $139.06. TKO Group Holdings, Inc. has a 1 year low of $85.01 and a 1 year high of $179.09. The stock has a market cap of $25.97 billion, a P/E ratio of -361.27 and a beta of 1.08. 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 Dividend Announcement

The company 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. This represents a $1.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, March 14th. TKO Group’s payout ratio is currently 7,600.00%.

Analyst Upgrades and Downgrades

TKO has been the topic of a number of research analyst reports. Pivotal Research reissued a “buy” rating and set a $195.00 price objective (up from $145.00) on shares of TKO Group in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. UBS Group boosted their price target on TKO Group from $135.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Guggenheim lifted their target price on TKO Group from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TKO Group presently has an average rating of “Moderate Buy” and an average target price of $157.00.

Insider Activity

In other TKO Group news, Director Jonathan Kraft bought 3,500 shares of TKO Group stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $140.69 per share, with a total value of $492,415.00. Following the purchase, the director now directly owns 23,500 shares in the company, valued at $3,306,215. This represents a 17.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sonya E. Medina purchased 233 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost of $142.93 per share, for a total transaction of $33,302.69. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $285,860. This trade represents a 13.19 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 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.

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.