Victory Capital Management Inc. Cuts Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Victory Capital Management Inc. reduced its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 455,204 shares of the company's stock after selling 107,024 shares during the quarter. Victory Capital Management Inc. owned 0.27% of TKO Group worth $64,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC increased its position in shares of TKO Group by 59.2% during the fourth quarter. Park Avenue Securities LLC now owns 13,004 shares of the company's stock worth $1,848,000 after acquiring an additional 4,836 shares during the period. Retirement Systems of Alabama increased its position in shares of TKO Group by 11.0% during the third quarter. Retirement Systems of Alabama now owns 80,707 shares of the company's stock worth $9,984,000 after acquiring an additional 8,006 shares during the period. HighTower Advisors LLC increased its position in shares of TKO Group by 177.2% during the third quarter. HighTower Advisors LLC now owns 26,197 shares of the company's stock worth $3,225,000 after acquiring an additional 16,746 shares during the period. Petrus Trust Company LTA purchased a new position in shares of TKO Group during the third quarter worth approximately $597,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in TKO Group by 29.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,704,728 shares of the company's stock valued at $210,892,000 after buying an additional 383,869 shares during the period. 89.79% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of TKO Group from $128.00 to $160.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Benchmark reissued a "hold" rating on shares of TKO Group in a report on Monday, March 3rd. Seaport Res Ptn raised shares of TKO Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of TKO Group from $137.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday, December 12th. Finally, Citigroup raised their target price on shares of TKO Group from $137.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $157.00.

Insider Transactions at TKO Group

In other TKO Group news, CEO Ariel Emanuel bought 60,208 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average cost of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the transaction, the chief executive officer now directly owns 1,734,530 shares of the company's stock, valued at approximately $249,303,996.90. This trade represents a 3.60 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Patrick Whitesell bought 263,200 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $146.97 per share, with a total value of $38,682,504.00. Following the completion of the transaction, the insider now directly owns 418,587 shares of the company's stock, valued at $61,519,731.39. This trade represents a 169.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,498,297 shares of company stock worth $387,671,461 and sold 71,457 shares worth $10,153,456. Insiders own 53.80% of the company's stock.

TKO Group Stock Performance

Shares of NYSE:TKO traded down $3.60 on Friday, hitting $143.39. 2,562,261 shares of the company were exchanged, compared to its average volume of 974,747. TKO Group Holdings, Inc. has a 1-year low of $79.32 and a 1-year high of $179.09. The stock's 50 day moving average price is $153.64 and its 200 day moving average price is $136.25. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $24.49 billion, a P/E ratio of -341.40 and a beta of 1.08.

TKO Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.06%. TKO Group's payout ratio is currently 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.