Chevy Chase Trust Holdings LLC Makes New $5.35 Million Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Chevy Chase Trust Holdings LLC acquired a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,021 shares of the company’s stock, valued at approximately $5,352,000.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in TKO Group by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,289 shares of the company’s stock worth $66,691,000 after acquiring an additional 16,536 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TKO Group by 21.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company’s stock worth $2,836,000 after acquiring an additional 3,572 shares in the last quarter. Twin Tree Management LP raised its stake in TKO Group by 147.0% during the fourth quarter. Twin Tree Management LP now owns 123,713 shares of the company’s stock worth $17,581,000 after acquiring an additional 73,617 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in TKO Group during the fourth quarter worth $431,000. Finally, Moore Capital Management LP raised its stake in TKO Group by 1,625.0% during the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company’s stock worth $59,443,000 after acquiring an additional 394,038 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In related news, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.46, for a total value of $1,508,380.74. Following the sale, the director now owns 210,967 shares of the company’s stock, valued at approximately $33,429,830.82. This trade represents a 4.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. B. Bynoe bought 980 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the transaction, the director now owns 2,747 shares in the company, valued at $465,863.73. The trade was a 55.46% increase in their position. The disclosure for this purchase can be found here. 61.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

TKO has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on TKO Group in a report on Wednesday, June 4th. They set an “outperform” rating and a $190.00 target price on the stock. Pivotal Research reiterated a “buy” rating and issued a $195.00 price target (up previously from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Guggenheim raised their price target on TKO Group from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group raised their price target on TKO Group from $170.00 to $188.00 and gave the company a “buy” rating in a report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.08.

TKO Group Trading Up 0.7%

NYSE:TKO opened at $176.24 on Friday. TKO Group Holdings, Inc. has a 1-year low of $102.46 and a 1-year high of $179.09. The business’s 50-day moving average price is $163.35 and its two-hundred day moving average price is $154.73. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $34.88 billion, a price-to-earnings ratio of 89.46 and a beta of 0.70.

TKO Group (NYSE:TKO) last released its earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.14. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted ($1.26) earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th 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 0.86%. The ex-dividend date is Friday, June 13th. TKO Group’s dividend payout ratio is currently 77.16%.

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.