Corebridge Financial Inc. Decreases Stock Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Corebridge Financial Inc. reduced its position in TKO Group Holdings, Inc. (NYSE:TKO) by 4.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 75,505 shares of the company’s stock after selling 3,283 shares during the period. Corebridge Financial Inc.’s holdings in TKO Group were worth $10,730,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in TKO Group by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,289 shares of the company’s stock worth $66,691,000 after buying an additional 16,536 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TKO Group by 21.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company’s stock worth $2,836,000 after acquiring an additional 3,572 shares during the last quarter. Twin Tree Management LP increased its holdings in shares of TKO Group by 147.0% during the fourth quarter. Twin Tree Management LP now owns 123,713 shares of the company’s stock valued at $17,581,000 after acquiring an additional 73,617 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of TKO Group by 59.2% in the 4th quarter. Park Avenue Securities LLC now owns 13,004 shares of the company’s stock valued at $1,848,000 after purchasing an additional 4,836 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in TKO Group by 11.0% in the 3rd quarter. Retirement Systems of Alabama now owns 80,707 shares of the company’s stock worth $9,984,000 after purchasing an additional 8,006 shares in the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TKO has been the topic of a number of recent analyst reports. Pivotal Research restated a “buy” rating and set a $195.00 price target (up previously from $145.00) on shares of TKO Group in a research note on Thursday, February 27th. Guggenheim raised their target price on TKO Group from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley boosted their price target on TKO Group from $128.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. The Goldman Sachs Group increased their price objective on TKO Group from $142.00 to $165.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, UBS Group lifted their target price on TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

TKO Group Stock Performance

Shares of NYSE TKO opened at $154.66 on Thursday. The company has a market capitalization of $26.47 billion, a PE ratio of -368.24 and a beta of 1.08. 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’s fifty day moving average price is $155.00 and its 200 day moving average price is $138.97. TKO Group Holdings, Inc. has a 1 year low of $85.01 and a 1 year high of $179.09.

TKO Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, March 14th. TKO Group’s dividend payout ratio (DPR) is presently 7,600.00%.

Insider Activity at TKO Group

In other news, insider Mark S. Shapiro sold 31,666 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $141.94, for a total value of $4,494,672.04. Following the completion of the sale, the insider now directly owns 73,677 shares in the company, valued at $10,457,713.38. The trade was a 30.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sonya E. Medina bought 233 shares of TKO Group stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $142.93 per share, with a total value of $33,302.69. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $285,860. This trade represents a 13.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,921,383 shares of company stock worth $304,417,051 and sold 71,457 shares worth $10,153,456. 53.80% of the stock is owned by company insiders.

TKO Group Company 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.