Annex Advisory Services LLC Acquires 42,238 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Annex Advisory Services LLC lifted its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,632 shares of the company’s stock after purchasing an additional 42,238 shares during the quarter. TKO Group accounts for about 1.4% of Annex Advisory Services LLC’s investment portfolio, making the stock its 20th biggest holding. Annex Advisory Services LLC owned 0.19% of TKO Group worth $49,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TKO. Retireful LLC bought a new stake in TKO Group in the 1st quarter worth approximately $787,000. Whipplewood Advisors LLC grew its holdings in shares of TKO Group by 57,165.4% in the first quarter. Whipplewood Advisors LLC now owns 29,778 shares of the company’s stock worth $4,550,000 after acquiring an additional 29,726 shares during the period. Sentry Investment Management LLC bought a new stake in shares of TKO Group in the first quarter worth $25,000. Merit Financial Group LLC purchased a new stake in TKO Group during the first quarter valued at $296,000. Finally, O Keefe Stevens Advisory Inc. lifted its holdings in TKO Group by 26.8% in the first quarter. O Keefe Stevens Advisory Inc. now owns 1,961 shares of the company’s stock valued at $300,000 after acquiring an additional 415 shares during the period. 89.79% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Sonya E. Medina purchased 233 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost of $142.93 per share, with a total value of $33,302.69. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $285,860. This represents a 13.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the acquisition, the insider now directly owns 4,158,517 shares in the company, valued at approximately $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,582,813 shares of company stock worth $250,525,663 over the last 90 days. Corporate insiders own 61.30% of the company’s stock.

TKO Group Stock Up 1.8%

Shares of TKO opened at $165.97 on Thursday. The business’s 50 day moving average is $156.04 and its 200 day moving average is $151.06. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. TKO Group Holdings, Inc. has a 12-month low of $100.76 and a 12-month high of $179.09. The company has a market capitalization of $32.85 billion, a PE ratio of -395.17 and a beta of 0.73.

TKO Group (NYSE:TKO) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.14. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted ($1.26) earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 13th. TKO Group’s dividend payout ratio (DPR) is presently 77.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of TKO Group from $158.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Sanford C. Bernstein initiated coverage on shares of TKO Group in a report on Wednesday. They set an “outperform” rating and a $190.00 target price for the company. Benchmark reiterated a “hold” rating on shares of TKO Group in a research report on Monday, March 3rd. The Goldman Sachs Group boosted their price objective on shares of TKO Group from $170.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Finally, Seaport Res Ptn raised TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.08.

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.