Independent Franchise Partners LLP trimmed its holdings in TKO Group Holdings, Inc. (NYSE:TKO – Free Report) by 13.7% in the 4th quarter, HoldingsChannel reports. The fund owned 485,832 shares of the company’s stock after selling 77,284 shares during the quarter. TKO Group makes up approximately 0.6% of Independent Franchise Partners LLP’s holdings, making the stock its 26th biggest holding. Independent Franchise Partners LLP’s holdings in TKO Group were worth $101,539,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new position in TKO Group in the fourth quarter worth approximately $27,000. Torren Management LLC purchased a new position in TKO Group in the fourth quarter worth approximately $32,000. CYBER HORNET ETFs LLC purchased a new position in TKO Group in the second quarter worth approximately $34,000. Aventura Private Wealth LLC purchased a new position in TKO Group in the fourth quarter worth approximately $35,000. Finally, MUFG Securities EMEA plc purchased a new position in TKO Group in the second quarter worth approximately $36,000. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Nick Khan sold 9,589 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $207.56, for a total value of $1,990,292.84. Following the sale, the director directly owned 81,511 shares in the company, valued at approximately $16,918,423.16. This trade represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew M. Schleimer acquired 2,696 shares of TKO Group stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $185.44 per share, for a total transaction of $499,946.24. Following the completion of the purchase, the chief financial officer owned 30,240 shares of the company’s stock, valued at approximately $5,607,705.60. This represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have acquired 24,308 shares of company stock valued at $4,499,679 and have sold 28,625 shares valued at $5,650,725. Corporate insiders own 64.30% of the company’s stock.
TKO Group Stock Down 2.6%
TKO Group (NYSE:TKO – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. As a group, equities analysts predict that TKO Group Holdings, Inc. will post 4.96 EPS for the current fiscal year.
TKO Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.79 dividend. The ex-dividend date 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 117.91%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Wall Street Zen upgraded TKO Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research upgraded TKO Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. TD Cowen increased their price objective on TKO Group from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. UBS Group increased their price objective on TKO Group from $235.00 to $238.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, BTIG Research reiterated a “buy” rating and issued a $237.00 price objective on shares of TKO Group in a research report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.73.
Read Our Latest Stock Analysis on TKO
About TKO Group
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.
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