Sequoia Financial Advisors LLC Grows Position in TKO Group Holdings, Inc. $TKO

Sequoia Financial Advisors LLC increased its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 0.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 470,289 shares of the company’s stock after buying an additional 205 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in TKO Group were worth $85,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TKO. Vanguard Group Inc. grew its stake in TKO Group by 19.4% during the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock worth $1,218,951,000 after buying an additional 1,295,817 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of TKO Group by 569.7% in the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company’s stock valued at $217,457,000 after buying an additional 1,210,563 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of TKO Group by 242.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock valued at $228,675,000 after buying an additional 1,059,636 shares during the period. Ninety One UK Ltd lifted its holdings in shares of TKO Group by 14.4% in the 2nd quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company’s stock valued at $882,459,000 after buying an additional 611,233 shares during the period. Finally, Congress Asset Management Co. acquired a new stake in shares of TKO Group in the 2nd quarter valued at approximately $82,056,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Northcoast Research cut TKO Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 10th. Citigroup raised their price target on TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, August 15th. UBS Group lifted their price objective on TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Seaport Res Ptn cut TKO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Morgan Stanley lifted their price objective on TKO Group from $165.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.07.

Insider Buying and Selling at TKO Group

In related news, Director Nick Khan sold 45,168 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76. Following the completion of the transaction, the director directly owned 156,494 shares in the company, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. B. Bynoe bought 740 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was acquired at an average price of $203.00 per share, with a total value of $150,220.00. Following the completion of the purchase, the director directly owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. The trade was a 16.64% increase in their position. The disclosure for this purchase can be found here. Insiders sold 73,725 shares of company stock valued at $12,966,373 over the last quarter. Insiders own 53.80% of the company’s stock.

TKO Group Stock Performance

NYSE TKO opened at $186.72 on Monday. TKO Group Holdings, Inc. has a fifty-two week low of $114.01 and a fifty-two week high of $212.49. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 77.16 and a beta of 0.76. The business has a fifty day moving average of $190.27 and a 200-day moving average of $172.41. 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 (NYSE:TKO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm earned $0.72 earnings per share. The business’s revenue was up 53.7% compared to the same quarter last year. As a group, analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

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

TKO Group declared that its board has approved a stock buyback plan on Monday, September 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.