Norges Bank Invests $104.61 Million in TKO Group Holdings, Inc. (NYSE:TKO)

Norges Bank purchased a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 736,144 shares of the company’s stock, valued at approximately $104,613,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of TKO Group by 5.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 57,555 shares of the company’s stock worth $7,120,000 after buying an additional 2,902 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in TKO Group by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,864 shares of the company’s stock worth $24,601,000 after acquiring an additional 6,770 shares during the period. Aureus Asset Management LLC purchased a new position in TKO Group in the third quarter worth $243,000. HighVista Strategies LLC purchased a new stake in shares of TKO Group during the 3rd quarter worth $1,447,000. Finally, HighTower Advisors LLC grew its stake in shares of TKO Group by 177.2% during the 3rd quarter. HighTower Advisors LLC now owns 26,197 shares of the company’s stock worth $3,225,000 after purchasing an additional 16,746 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

Analysts Set New Price Targets

TKO has been the subject of a number of research reports. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Pivotal Research reiterated a “buy” rating and set a $195.00 target price (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. Citigroup raised their price target on TKO Group from $137.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on shares of TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, Guggenheim raised their target price on shares of TKO Group from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

TKO Group Price Performance

TKO Group stock opened at $153.04 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $26.20 billion, a price-to-earnings ratio of -364.38 and a beta of 1.08. TKO Group Holdings, Inc. has a 1 year low of $85.01 and a 1 year high of $179.09. The firm has a 50 day moving average price of $155.74 and a 200 day moving average price of $140.19.

TKO Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, March 14th. This represents a $1.52 annualized dividend and a yield of 0.99%. TKO Group’s dividend payout ratio is presently 7,600.00%.

Insider Buying and Selling at TKO Group

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 stock was sold at an average price of $141.94, for a total value of $4,494,672.04. Following the transaction, the insider now directly owns 73,677 shares of the company’s stock, valued at $10,457,713.38. This trade represents a 30.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Patrick Whitesell bought 125,589 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $143.06 per share, with a total value of $17,966,762.34. Following the transaction, the insider now directly owns 807,376 shares of the company’s stock, valued at approximately $115,503,210.56. This trade represents a 18.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,921,383 shares of company stock valued at $304,417,051 and have sold 71,457 shares valued at $10,153,456. 53.80% of the stock is currently owned by corporate insiders.

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.