Raymond James Financial Inc. Takes $33.92 Million Position in TKO Group Holdings, Inc. (NYSE:TKO)

Raymond James Financial Inc. bought a new position in TKO Group Holdings, Inc. (NYSE:TKO) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 238,705 shares of the company’s stock, valued at approximately $33,922,000. Raymond James Financial Inc. owned approximately 0.14% of TKO Group at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in TKO Group by 559.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 178 shares of the company’s stock valued at $26,000 after buying an additional 151 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of TKO Group during the 4th quarter valued at about $32,000. First Horizon Advisors Inc. grew its holdings in shares of TKO Group by 491.5% during the third quarter. First Horizon Advisors Inc. now owns 278 shares of the company’s stock worth $34,000 after purchasing an additional 231 shares in the last quarter. Game Plan Financial Advisors LLC increased its position in shares of TKO Group by 172.2% in the fourth quarter. Game Plan Financial Advisors LLC now owns 245 shares of the company’s stock worth $35,000 after purchasing an additional 155 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in TKO Group during the fourth quarter valued at approximately $38,000. 89.79% of the stock is owned by institutional investors.

TKO Group Stock Down 4.5 %

TKO stock opened at $140.59 on Friday. TKO Group Holdings, Inc. has a fifty-two week low of $79.32 and a fifty-two week high of $179.09. The business’s 50 day moving average price is $153.72 and its two-hundred day moving average price is $136.83. 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 capitalization of $24.07 billion, a price-to-earnings ratio of -334.75 and a beta of 1.08.

TKO Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.08%. TKO Group’s dividend payout ratio (DPR) is 7,600.00%.

Insiders Place Their Bets

In related news, major shareholder Patrick Whitesell purchased 156,446 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $175.60 per share, for a total transaction of $27,471,917.60. Following the purchase, the insider now directly owns 2,461,668 shares of the company’s stock, valued at approximately $432,268,900.80. This represents a 6.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ariel Emanuel purchased 117,769 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was bought at an average price of $175.40 per share, for a total transaction of $20,656,682.60. Following the purchase, the chief executive officer now directly owns 2,579,437 shares in the company, valued at $452,433,249.80. The trade was a 4.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,184,350 shares of company stock worth $343,066,252 and have sold 71,457 shares worth $10,153,456. Company insiders own 53.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of TKO Group from $142.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Pivotal Research reiterated a “buy” rating and set a $195.00 price target (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. Citigroup boosted their price objective on shares of TKO Group from $137.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, Guggenheim increased 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

TKO Group 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.