Harvest Fund Management Co. Ltd Makes New Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Harvest Fund Management Co. Ltd acquired a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,602 shares of the company’s stock, valued at approximately $939,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. M&T Bank Corp grew its holdings in shares of TKO Group by 2.4% during the fourth quarter. M&T Bank Corp now owns 2,733 shares of the company’s stock worth $389,000 after buying an additional 64 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of TKO Group by 28.2% during the fourth quarter. Blue Trust Inc. now owns 332 shares of the company’s stock worth $47,000 after buying an additional 73 shares during the last quarter. US Bancorp DE grew its holdings in shares of TKO Group by 18.0% during the fourth quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $80,000 after buying an additional 86 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of TKO Group by 3.3% during the third quarter. Coldstream Capital Management Inc. now owns 3,070 shares of the company’s stock worth $379,000 after buying an additional 97 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of TKO Group by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company’s stock worth $2,629,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Price Performance

TKO stock opened at $150.45 on Friday. TKO Group Holdings, Inc. has a 1 year low of $84.88 and a 1 year high of $179.09. 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 stock’s 50 day moving average price is $154.14 and its 200 day moving average price is $137.82. The firm has a market cap of $25.75 billion, a P/E ratio of -358.20 and a beta of 1.08.

TKO Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, March 14th. TKO Group’s payout ratio is currently 7,600.00%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TKO. Pivotal Research reissued a “buy” rating and set a $195.00 price target (up previously from $145.00) on shares of TKO Group in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on shares of TKO Group from $137.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Citigroup lifted their price objective on TKO Group from $137.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Seaport Res Ptn raised TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Guggenheim lifted their price objective on TKO Group from $170.00 to $175.00 and gave the company a “buy” rating in a report 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Insider Activity at TKO Group

In other TKO Group news, Director Jonathan Kraft purchased 3,500 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $140.69 per share, for a total transaction of $492,415.00. Following the acquisition, the director now owns 23,500 shares of the company’s stock, valued at approximately $3,306,215. The trade was a 17.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sonya E. Medina purchased 233 shares of the business’s stock in a transaction on Monday, March 17th. The stock was acquired at an average price of $142.93 per share, with a total value of $33,302.69. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at $285,860. The trade was a 13.19 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,921,383 shares of company stock valued at $304,417,051 and have sold 71,457 shares valued at $10,153,456. 53.80% of the stock is owned by corporate insiders.

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.