Fred Alger Management LLC Sells 103,488 Shares of TKO Group Holdings, Inc. $TKO

Fred Alger Management LLC lessened its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 39.0% during the fourth quarter, HoldingsChannel reports. The firm owned 161,753 shares of the company’s stock after selling 103,488 shares during the period. Fred Alger Management LLC’s holdings in TKO Group were worth $33,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Elyxium Wealth LLC bought a new stake in shares of TKO Group in the 4th quarter worth approximately $27,000. Torren Management LLC bought a new stake in shares of TKO Group in the 4th quarter worth approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of TKO Group in the 2nd quarter worth approximately $34,000. Aventura Private Wealth LLC bought a new stake in shares of TKO Group in the 4th quarter worth approximately $35,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of TKO Group in the 2nd quarter worth approximately $36,000. Institutional investors own 89.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TKO. Wolfe Research reaffirmed a “peer perform” rating on shares of TKO Group in a report on Thursday, March 5th. Pivotal Research lifted their price target on shares of TKO Group from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. TD Cowen boosted their target price on shares of TKO Group from $245.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Sanford C. Bernstein lowered their target price on shares of TKO Group from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Finally, BTIG Research reissued a “buy” rating and set a $237.00 target price on shares of TKO Group in a report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $233.73.

Insider Activity

In other news, insider Mark S. Shapiro purchased 10,807 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $185.05 per share, with a total value of $1,999,835.35. Following the completion of the acquisition, the insider owned 129,207 shares in the company, valued at $23,909,755.35. This trade represents a 9.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nick Khan sold 9,589 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $207.56, for a total transaction of $1,990,292.84. Following the completion of the transaction, the director directly owned 81,511 shares in the company, valued at approximately $16,918,423.16. The trade was a 10.53% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders bought 24,308 shares of company stock worth $4,499,679 and sold 28,625 shares worth $5,650,725. 64.30% of the stock is currently owned by company insiders.

TKO Group Trading Down 0.5%

Shares of TKO stock opened at $200.12 on Wednesday. The company’s fifty day simple moving average is $193.59 and its two-hundred day simple moving average is $201.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. TKO Group Holdings, Inc. has a 1 year low of $152.29 and a 1 year high of $226.94. The stock has a market capitalization of $38.85 billion, a price-to-earnings ratio of 74.67 and a beta of 0.59.

TKO Group (NYSE:TKO) last issued its earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, analysts anticipate that TKO Group Holdings, Inc. will post 4.96 earnings per share for the current year.

TKO Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from TKO Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 1.6%. TKO Group’s payout ratio is currently 117.91%.

TKO Group Company Profile

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.