TKO Group (NYSE:TKO) Director Nick Khan Sells 9,519 Shares

TKO Group Holdings, Inc. (NYSE:TKO) Director Nick Khan sold 9,519 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.16, for a total value of $1,857,728.04. Following the completion of the sale, the director directly owned 108,985 shares of the company’s stock, valued at approximately $21,269,512.60. The trade was a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nick Khan also recently made the following trade(s):

• On Monday, November 3rd, Nick Khan sold 9,519 shares of TKO Group stock. The shares were sold at an average price of $188.26, for a total transaction of $1,792,046.94.
• On Friday, October 3rd, Nick Khan sold 9,519 shares of TKO Group stock. The stock was sold at an average price of $197.82, for a total transaction of $1,883,048.58.

TKO Group Price Performance

Shares of TKO stock traded up $1.23 during trading hours on Friday, reaching $202.10. The company’s stock had a trading volume of 780,857 shares, compared to its average volume of 1,090,191. TKO Group Holdings, Inc. has a fifty-two week low of $133.07 and a fifty-two week high of $212.49. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.42. The firm’s 50 day simple moving average is $189.36 and its 200-day simple moving average is $181.40. The company has a market capitalization of $39.43 billion, a price-to-earnings ratio of 77.43 and a beta of 0.65.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.11). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. TKO Group had a return on equity of 2.57% and a net margin of 5.27%.The firm’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the company posted $0.28 earnings per share. Sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TKO Group’s payout ratio is currently 116.48%.

TKO Group declared that its board has authorized a stock buyback program on Monday, September 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in TKO Group by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock valued at $1,218,951,000 after acquiring an additional 1,295,817 shares during the period. State Street Corp boosted its holdings in TKO Group by 20.3% in the 3rd quarter. State Street Corp now owns 5,249,091 shares of the company’s stock worth $1,060,106,000 after buying an additional 887,401 shares during the period. Ninety One UK Ltd grew its stake in TKO Group by 2.4% in the 3rd quarter. Ninety One UK Ltd now owns 4,964,002 shares of the company’s stock valued at $1,002,530,000 after buying an additional 113,996 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in TKO Group by 2.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,057,020 shares of the company’s stock valued at $415,436,000 after acquiring an additional 53,818 shares during the period. Finally, Invesco Ltd. lifted its position in shares of TKO Group by 26.9% during the second quarter. Invesco Ltd. now owns 1,806,377 shares of the company’s stock worth $328,670,000 after acquiring an additional 383,325 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TKO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of TKO Group in a research note on Monday. Baird R W raised shares of TKO Group to a “strong-buy” rating in a research report on Friday, September 5th. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Citigroup boosted their target price on TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Finally, BTIG Research reaffirmed a “buy” rating and set a $235.00 price target on shares of TKO Group in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $222.85.

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.