Cullen Frost Bankers Inc. Invests $36,000 in TKO Group Holdings, Inc. $TKO

Cullen Frost Bankers Inc. acquired a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 200 shares of the company’s stock, valued at approximately $36,000.

A number of other large investors also recently modified their holdings of the business. Whittier Trust Co. boosted its stake in shares of TKO Group by 350.0% during the 2nd quarter. Whittier Trust Co. now owns 135 shares of the company’s stock worth $25,000 after buying an additional 105 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of TKO Group during the 2nd quarter worth about $309,000. William Blair Investment Management LLC acquired a new position in shares of TKO Group during the 2nd quarter worth about $9,924,000. Chevy Chase Trust Holdings LLC raised its holdings in shares of TKO Group by 1.4% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 35,506 shares of the company’s stock valued at $6,460,000 after purchasing an additional 485 shares during the period. Finally, Barlow Wealth Partners Inc. raised its holdings in shares of TKO Group by 0.8% in the 2nd quarter. Barlow Wealth Partners Inc. now owns 127,142 shares of the company’s stock valued at $22,563,000 after purchasing an additional 1,009 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Stock Up 0.1%

TKO Group stock opened at $186.95 on Monday. The stock has a market cap of $37.07 billion, a P/E ratio of 77.25 and a beta of 0.76. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. TKO Group Holdings, Inc. has a twelve month low of $114.01 and a twelve month high of $212.49. The company’s 50-day moving average price is $192.94 and its two-hundred day moving average price is $175.27.

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

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued 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 dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, September 15th. TKO Group’s payout ratio is 125.62%.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of TKO Group in a report on Monday, October 6th. They issued a “buy” rating and a $235.00 target price on the stock. Morgan Stanley upped their target price on shares of TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Roth Capital upped their target price on shares of TKO Group from $208.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Baird R W raised shares of TKO Group to a “strong-buy” rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TKO Group in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.21.

Insider Activity at TKO Group

In other news, Director Nick Khan sold 9,519 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the transaction, the director directly owned 137,456 shares of the company’s stock, valued at approximately $25,625,922.08. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. B. Bynoe bought 740 shares of the stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the acquisition, the director directly owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. This trade represents a 16.64% increase in their position. The disclosure for this purchase can be found here. 53.80% of the stock is currently owned by company insiders.

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.