Summit Investment Advisors Inc. Sells 303 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Summit Investment Advisors Inc. reduced its position in TKO Group Holdings, Inc. (NYSE:TKO) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 13,328 shares of the company’s stock after selling 303 shares during the quarter. Summit Investment Advisors Inc.’s holdings in TKO Group were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of TKO Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 6,681,087 shares of the company’s stock valued at $949,449,000 after buying an additional 114,096 shares in the last quarter. Ninety One UK Ltd raised its position in TKO Group by 4.1% in the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock worth $589,985,000 after purchasing an additional 163,980 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TKO Group by 2.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,752,496 shares of the company’s stock worth $249,047,000 after purchasing an additional 47,768 shares during the period. Geode Capital Management LLC lifted its stake in TKO Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,255,099 shares of the company’s stock worth $178,777,000 after purchasing an additional 13,181 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in TKO Group by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,246,338 shares of the company’s stock valued at $154,185,000 after purchasing an additional 13,148 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

TKO Group Trading Up 1.1 %

Shares of NYSE TKO opened at $149.77 on Wednesday. TKO Group Holdings, Inc. has a 1-year low of $94.32 and a 1-year high of $179.09. The company has a 50-day moving average of $153.46 and a two-hundred day moving average of $141.93. The company has a market cap of $25.64 billion, a PE ratio of -356.60 and a beta of 0.90. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, March 14th. TKO Group’s dividend payout ratio is 7,600.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TKO. Guggenheim increased their target price on TKO Group from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group lifted 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. Citigroup upped their target price 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. UBS Group lifted their price target on shares of TKO Group from $135.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Seaport Res Ptn raised shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.36.

Insider Buying and Selling at TKO Group

In other news, CEO Ariel Emanuel purchased 115,952 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were acquired at an average price of $143.85 per share, with a total value of $16,679,695.20. Following the completion of the purchase, the chief executive officer now directly owns 1,031,804 shares of the company’s stock, valued at $148,425,005.40. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Patrick Whitesell purchased 156,446 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $175.60 per share, for a total transaction of $27,471,917.60. Following the acquisition, the insider now owns 2,461,668 shares of the company’s stock, valued at $432,268,900.80. The trade was a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,921,383 shares of company stock worth $304,417,051 and have sold 5,833 shares worth $838,785. Corporate insiders own 53.80% of the company’s stock.

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.