Assetmark Inc. Acquires 1,729 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Assetmark Inc. lifted its position in TKO Group Holdings, Inc. (NYSE:TKO) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,447 shares of the company’s stock after purchasing an additional 1,729 shares during the quarter. Assetmark Inc.’s holdings in TKO Group were worth $3,190,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TKO. Massachusetts Financial Services Co. MA raised its stake in shares of TKO Group by 29.1% in 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 purchasing an additional 383,869 shares in the last quarter. State Street Corp raised its stake in shares of TKO Group by 10.4% in the third quarter. State Street Corp now owns 2,052,916 shares of the company’s stock valued at $253,966,000 after purchasing an additional 192,602 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of TKO Group by 4.1% in the fourth quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock valued at $589,985,000 after purchasing an additional 163,980 shares in the last quarter. Geode Capital Management LLC raised its stake in TKO Group by 7.4% during the third quarter. Geode Capital Management LLC now owns 1,241,918 shares of the company’s stock worth $153,931,000 after acquiring an additional 85,160 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of TKO Group by 14.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 452,753 shares of the company’s stock valued at $56,010,000 after acquiring an additional 56,312 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Price Performance

Shares of TKO stock opened at $143.39 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. TKO Group Holdings, Inc. has a 12 month low of $79.32 and a 12 month high of $179.09. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of -341.40 and a beta of 1.08. The stock has a 50-day moving average price of $153.64 and a 200 day moving average price of $136.37.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 14th. TKO Group’s dividend payout ratio (DPR) is 7,600.00%.

Insider Activity at TKO Group

In related news, CEO Ariel Emanuel bought 60,208 shares of TKO Group stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the acquisition, the chief executive officer now owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This represents a 3.60 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Shane Kapral sold 1,034 shares of the firm’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 owns 2,225 shares in the company, valued at approximately $315,816.50. This trade represents a 31.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,498,297 shares of company stock worth $387,671,461 and have sold 71,457 shares worth $10,153,456. 53.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TKO shares. Morgan Stanley increased their target price on shares of TKO Group from $128.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Benchmark reiterated a “hold” rating on shares of TKO Group in a research note on Monday, March 3rd. Pivotal Research restated a “buy” rating and set a $195.00 price target (up from $145.00) on shares of TKO Group in a research report on Thursday, February 27th. Guggenheim lifted their price objective on TKO Group from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their target price on TKO Group from $137.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Two investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

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.