TKO Group Holdings, Inc. $TKO Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS trimmed its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 4.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,300 shares of the company’s stock after selling 700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in TKO Group were worth $2,602,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TKO. Hemington Wealth Management grew its holdings in shares of TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of TKO Group in the 1st quarter worth $26,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of TKO Group in the 1st quarter worth $27,000. Farther Finance Advisors LLC grew its holdings in shares of TKO Group by 129.8% during the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock valued at $33,000 after buying an additional 122 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of TKO Group during the first quarter valued at $38,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In related news, Director Peter C. B. Bynoe purchased 740 shares of TKO Group stock in a transaction on Tuesday, September 16th. The stock was bought at an average price of $203.00 per share, with a total value of $150,220.00. Following the completion of the transaction, the director directly owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. This represents a 16.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nick Khan sold 9,519 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $197.82, for a total value of $1,883,048.58. Following the completion of the sale, the director directly owned 128,023 shares of the company’s stock, valued at $25,325,509.86. This represents a 6.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,725 shares of company stock valued at $12,966,373 in the last ninety days. Insiders own 61.30% of the company’s stock.

TKO Group Price Performance

TKO opened at $186.72 on Friday. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 77.16 and a beta of 0.76. TKO Group Holdings, Inc. has a 1 year low of $114.01 and a 1 year high of $212.49. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $190.27 and a 200 day moving average price of $172.26.

TKO Group (NYSE:TKO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. TKO Group’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. Analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group declared that its board has authorized a stock repurchase program on Monday, September 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

TKO Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.76 dividend. This is an increase from TKO Group’s previous quarterly dividend of $0.38. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, September 15th. TKO Group’s payout ratio is presently 125.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein lifted their price target on TKO Group from $190.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Roth Capital lifted their price target on TKO Group from $208.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Robert W. Baird lifted their price target on TKO Group from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, September 16th. Morgan Stanley lifted their price target on TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of TKO Group in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and an average price target of $206.07.

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.