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

Raymond James Financial Inc. acquired a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 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 quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TKO. Sellaronda Global Management LP purchased a new stake in shares of TKO Group in the 4th quarter worth about $12,790,000. Greenland Capital Management LP purchased a new stake in TKO Group in the fourth quarter worth about $516,000. Invesco Ltd. boosted its position in shares of TKO Group by 77.3% in the 4th quarter. Invesco Ltd. now owns 212,489 shares of the company's stock worth $30,197,000 after purchasing an additional 92,659 shares in the last quarter. Cerity Partners LLC raised its holdings in TKO Group by 79.3% in the 4th quarter. Cerity Partners LLC now owns 3,804 shares of the company's stock worth $511,000 after acquiring an additional 1,682 shares during the last quarter. Finally, Polymer Capital Management HK LTD purchased a new stake in shares of TKO Group during the fourth quarter worth about $341,000. Hedge funds and other institutional investors own 89.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Benchmark reiterated a "hold" rating on shares of TKO Group in a research report on Monday, March 3rd. Morgan Stanley upped their price objective on shares of TKO Group from $128.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. UBS Group lifted their target price on TKO Group from $135.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Pivotal Research reissued 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. Finally, The Goldman Sachs Group increased their price target on TKO Group from $142.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $159.36.

Insider Buying and Selling

In related news, Director Sonya E. Medina bought 233 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $142.93 per share, for a total transaction of $33,302.69. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $285,860. This trade represents a 13.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Patrick Whitesell acquired 177,861 shares of the firm's stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $165.99 per share, with a total value of $29,523,147.39. Following the completion of the purchase, the insider now owns 2,188,966 shares of the company's stock, valued at $363,346,466.34. This trade represents a 8.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,795,794 shares of company stock worth $286,450,289 and have sold 5,833 shares worth $838,785. Insiders own 53.80% of the company's stock.

TKO Group Stock Performance

TKO traded down $7.10 during trading on Monday, hitting $142.12. The stock had a trading volume of 374,084 shares, compared to its average volume of 1,604,603. The firm has a market capitalization of $24.33 billion, a P/E ratio of -338.38 and a beta of 0.90. The company's 50-day moving average price is $152.07 and its 200 day moving average price is $142.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. TKO Group Holdings, Inc. has a twelve month low of $94.32 and a twelve month high of $179.09.

TKO Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.07%. TKO Group's dividend payout ratio (DPR) is presently 7,600.00%.

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.