Raymond James Financial Inc. Makes New $33.92 Million Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Raymond James Financial Inc. acquired a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 238,705 shares of the company's stock, valued at approximately $33,922,000. Raymond James Financial Inc. owned about 0.14% of TKO Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TKO. Ninety One UK Ltd boosted its position in shares of TKO Group by 4.1% during the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company's stock valued at $589,985,000 after buying an additional 163,980 shares during the last quarter. State Street Corp boosted its holdings in TKO Group by 10.4% during the 3rd quarter. State Street Corp now owns 2,052,916 shares of the company's stock worth $253,966,000 after acquiring an additional 192,602 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of TKO Group by 29.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company's stock worth $210,892,000 after acquiring an additional 383,869 shares in the last quarter. Principal Financial Group Inc. increased its stake in TKO Group by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,246,338 shares of the company's stock valued at $154,185,000 after buying an additional 13,148 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of TKO Group by 7.4% during the third quarter. Geode Capital Management LLC now owns 1,241,918 shares of the company's stock valued at $153,931,000 after acquiring an additional 85,160 shares during the last quarter. 89.79% of the stock is owned by institutional investors.

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Insider Transactions at TKO Group

In other TKO Group news, CAO Shane Kapral sold 1,034 shares of the company'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 $146,765.96. Following the transaction, the chief accounting officer now directly owns 2,225 shares in the company, valued at $315,816.50. This represents a 31.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew M. Schleimer sold 5,419 shares of TKO Group stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $141.94, for a total value of $769,172.86. Following the sale, the chief financial officer now owns 6,995 shares of the company's stock, valued at approximately $992,870.30. This trade represents a 43.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 1,921,150 shares of company stock valued at $304,383,748 and have sold 71,457 shares valued at $10,153,456. Insiders own 53.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TKO shares. JPMorgan Chase & Co. upped their price objective on TKO Group from $137.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. The Goldman Sachs Group raised their price objective 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. Morgan Stanley increased their target price on shares of TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. UBS Group upped their price objective on TKO Group from $135.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Finally, Pivotal Research restated a "buy" rating and issued a $195.00 target price (up from $145.00) on shares of TKO Group in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, TKO Group currently has an average rating of "Moderate Buy" and a consensus target price of $157.00.

TKO Group Price Performance

TKO traded up $6.20 during trading on Monday, reaching $145.82. 2,329,598 shares of the company were exchanged, compared to its average volume of 995,329. TKO Group Holdings, Inc. has a 12-month low of $79.65 and a 12-month high of $179.09. The company's 50-day moving average is $153.66 and its two-hundred day moving average is $137.25. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The company has a market cap of $24.96 billion, a price-to-earnings ratio of -347.20 and a beta of 1.08.

TKO Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, March 14th. TKO Group's payout ratio is 7,600.00%.

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.