TKO Group Holdings, Inc. $TKO Holdings Decreased by State Street Corp

State Street Corp cut its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 13.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,361,690 shares of the company’s stock after selling 669,658 shares during the quarter. State Street Corp owned 2.20% of TKO Group worth $793,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Invesco Ltd. grew its position in shares of TKO Group by 569.7% during the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company’s stock valued at $217,457,000 after buying an additional 1,210,563 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in TKO Group by 242.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock worth $228,675,000 after purchasing an additional 1,059,636 shares during the period. Norges Bank bought a new position in TKO Group in the 2nd quarter valued at about $132,441,000. Ninety One UK Ltd increased its stake in TKO Group by 14.4% during the 2nd quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company’s stock valued at $882,459,000 after buying an additional 611,233 shares during the period. Finally, Congress Asset Management Co. acquired a new position in TKO Group during the 2nd quarter valued at about $82,056,000. 89.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TKO has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of TKO Group from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Arete Research raised TKO Group to a “hold” rating in a research note on Wednesday, October 15th. Morgan Stanley raised their target price on shares of TKO Group from $165.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Susquehanna upped their price target on TKO Group from $229.00 to $230.00 and gave the company a “positive” rating in a research report on Wednesday. Finally, Citigroup upped their price objective on shares of TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.50.

TKO Group Stock Up 3.7%

TKO Group stock opened at $204.16 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.42. TKO Group Holdings, Inc. has a 1-year low of $133.07 and a 1-year high of $212.49. The firm’s fifty day simple moving average is $189.32 and its 200-day simple moving average is $182.54. The company has a market capitalization of $39.83 billion, a P/E ratio of 78.22 and a beta of 0.65.

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

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. 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. TKO Group’s dividend payout ratio (DPR) is 116.48%.

TKO Group declared that its board has authorized a share buyback program on Monday, September 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Shane Kapral sold 254 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $202.41, for a total value of $51,412.14. Following the completion of the sale, the chief financial officer directly owned 1,520 shares in the company, valued at approximately $307,663.20. The trade was a 14.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. B. Bynoe acquired 740 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were purchased at an average cost of $203.00 per share, with a total value of $150,220.00. Following the completion of the acquisition, the director owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 29,573 shares of company stock worth $5,725,130. 61.30% of the stock is currently owned by insiders.

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.