Wilmington Savings Fund Society FSB Boosts Stake in TKO Group Holdings, Inc. $TKO

Wilmington Savings Fund Society FSB grew its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,246 shares of the company’s stock after buying an additional 496 shares during the period. Wilmington Savings Fund Society FSB’s holdings in TKO Group were worth $773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TKO Group in the first quarter worth $1,163,000. Friedenthal Financial purchased a new position in shares of TKO Group in the first quarter worth $895,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of TKO Group in the first quarter worth $464,000. Ninety One SA PTY Ltd raised its holdings in shares of TKO Group by 3.4% during the first quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company’s stock worth $10,902,000 after purchasing an additional 2,330 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of TKO Group during the first quarter worth $297,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Insider Buying and Selling at TKO Group

In related news, Director Peter C. B. Bynoe bought 740 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the transaction, the director directly owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $197.82, for a total transaction of $1,883,048.58. Following the completion of the sale, the director owned 128,023 shares in the company, valued at approximately $25,325,509.86. This trade represents a 6.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,725 shares of company stock worth $12,966,373. 61.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of TKO Group in a report on Monday, October 6th. They set a “buy” rating and a $235.00 target price for the company. Robert W. Baird raised their target price 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. Guggenheim raised their target price on shares of TKO Group from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Zacks Research raised shares of TKO Group from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Seaport Res Ptn cut shares of TKO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.21.

TKO Group Stock Down 1.5%

TKO stock opened at $188.26 on Friday. The firm has a market cap of $37.33 billion, a PE ratio of 77.79 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. The firm’s fifty day moving average is $192.50 and its 200 day moving average is $173.17. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $212.49.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The firm’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. On average, research analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group announced that its Board of Directors has initiated a stock buyback plan on Monday, September 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

TKO Group Increases Dividend

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

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.