Eastern Bank Invests $34,000 in TKO Group Holdings, Inc. $TKO

Eastern Bank acquired a new position in TKO Group Holdings, Inc. (NYSE:TKO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 185 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors also recently bought and sold shares of TKO. Hemington Wealth Management increased its stake in TKO Group by 425.0% during the 1st quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of TKO Group in the first quarter worth $26,000. Bartlett & CO. Wealth Management LLC purchased a new position in shares of TKO Group in the first quarter worth $27,000. Farther Finance Advisors LLC raised its holdings in shares of TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock worth $33,000 after buying an additional 122 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of TKO Group in the first quarter worth $38,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Stock Performance

Shares of NYSE TKO opened at $188.64 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. TKO Group Holdings, Inc. has a 12 month low of $114.01 and a 12 month high of $212.49. The company has a 50 day simple moving average of $190.73 and a two-hundred day simple moving average of $172.68. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 77.95 and a beta of 0.76.

TKO Group (NYSE:TKO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was up 53.7% on a year-over-year basis. As a group, analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group declared that its board has initiated a stock repurchase plan on Monday, September 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.76 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.04 annualized dividend and a dividend yield of 1.6%. This is an increase from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s dividend payout ratio (DPR) is presently 125.62%.

Insider Buying and Selling at TKO Group

In other news, Director Peter C. B. Bynoe bought 740 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was purchased at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the purchase, the director directly owned 5,187 shares in the company, valued at approximately $1,052,961. This trade represents a 16.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nick Khan sold 45,168 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the completion of the transaction, the director owned 156,494 shares of the company’s stock, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,725 shares of company stock valued at $12,966,373. Company insiders own 53.80% of the company’s stock.

Analyst Ratings Changes

TKO has been the subject of a number of research analyst reports. UBS Group raised their price target on shares of TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Sanford C. Bernstein raised their price target on shares of TKO Group from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Baird R W raised shares of TKO Group to a “strong-buy” rating in a report on Friday, September 5th. Robert W. Baird raised their price target on shares of TKO Group from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Finally, Guggenheim lifted their price objective on shares of TKO Group from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.07.

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.