Fred Alger Management LLC Sells 103,488 Shares of TKO Group Holdings, Inc. $TKO

Fred Alger Management LLC trimmed its position in TKO Group Holdings, Inc. (NYSE:TKO) by 39.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,753 shares of the company’s stock after selling 103,488 shares during the period. Fred Alger Management LLC owned approximately 0.08% of TKO Group worth $33,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. &PARTNERS increased its position in TKO Group by 6.7% in the 4th quarter. &PARTNERS now owns 6,016 shares of the company’s stock valued at $1,256,000 after buying an additional 379 shares in the last quarter. Munro Partners increased its position in TKO Group by 24.4% in the 4th quarter. Munro Partners now owns 712,256 shares of the company’s stock valued at $148,862,000 after buying an additional 139,600 shares in the last quarter. Capital Financial Group Inc. Co. ADV bought a new stake in TKO Group in the 4th quarter valued at about $523,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in TKO Group by 150.0% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,000 shares of the company’s stock valued at $3,135,000 after buying an additional 9,000 shares in the last quarter. Finally, Silvant Capital Management LLC increased its position in TKO Group by 81.5% in the 4th quarter. Silvant Capital Management LLC now owns 14,896 shares of the company’s stock valued at $3,113,000 after buying an additional 6,689 shares in the last quarter. 89.79% of the stock is owned by institutional investors.

TKO Group Price Performance

Shares of NYSE TKO opened at $200.12 on Wednesday. TKO Group Holdings, Inc. has a twelve month low of $152.29 and a twelve month high of $226.94. The stock’s 50 day moving average price is $193.59 and its 200-day moving average price is $201.00. The company has a market capitalization of $38.85 billion, a PE ratio of 74.67 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue was up 25.9% compared to the same quarter last year. On average, equities analysts anticipate that TKO Group Holdings, Inc. will post 4.96 EPS for the current year.

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, June 15th. This is a boost from TKO Group’s previous quarterly dividend of $0.78. TKO Group’s dividend payout ratio (DPR) is presently 117.91%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $237.00 target price on shares of TKO Group in a research report on Thursday, May 7th. Zacks Research upgraded TKO Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. UBS Group lifted their price target on TKO Group from $235.00 to $238.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Sanford C. Bernstein cut their price target on TKO Group from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Finally, Citizens Jmp assumed coverage on TKO Group in a research note on Monday, March 30th. They set a “mkt outperform” rating and a $240.00 price target for the company. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.73.

Insiders Place Their Bets

In other TKO Group news, insider Mark S. Shapiro bought 10,807 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $185.05 per share, for a total transaction of $1,999,835.35. Following the purchase, the insider directly owned 129,207 shares of the company’s stock, valued at approximately $23,909,755.35. This represents a 9.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nick Khan sold 9,589 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $207.56, for a total value of $1,990,292.84. Following the completion of the transaction, the director owned 81,511 shares in the company, valued at $16,918,423.16. The trade was a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have bought 24,308 shares of company stock worth $4,499,679 and have sold 28,625 shares worth $5,650,725. Insiders own 64.30% of the company’s stock.

TKO Group Profile

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.