Draper Asset Management LLC Increases Stake in TKO Group Holdings, Inc. $TKO

Draper Asset Management LLC raised its position in TKO Group Holdings, Inc. (NYSE:TKO) by 6.5% during the second quarter, HoldingsChannel reports. The firm owned 2,979 shares of the company’s stock after purchasing an additional 182 shares during the period. TKO Group comprises 0.3% of Draper Asset Management LLC’s holdings, making the stock its 21st biggest position. Draper Asset Management LLC’s holdings in TKO Group were worth $534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hemington Wealth Management lifted its holdings in TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares in the last quarter. Whittier Trust Co. lifted its holdings in TKO Group by 350.0% in the 2nd quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after purchasing an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of TKO Group in the 1st quarter worth $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of TKO Group in the 1st quarter worth $27,000. Finally, Eastern Bank acquired a new stake in shares of TKO Group in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Stock Performance

NYSE TKO opened at $187.22 on Friday. The company has a market cap of $37.13 billion, a P/E ratio of 77.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a 50-day moving average of $192.98 and a two-hundred day moving average of $174.51. TKO Group Holdings, Inc. has a 1-year low of $114.01 and a 1-year high of $212.49.

TKO Group (NYSE:TKO) last released its 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 firm had revenue of $1.31 billion during 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%. The business’s revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group announced that its Board of Directors has authorized a share buyback plan on Monday, September 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, September 15th. This is a boost from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s dividend payout ratio (DPR) is 125.62%.

Insider Activity at TKO Group

In related news, Director Nick Khan sold 9,519 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $197.82, for a total transaction of $1,883,048.58. Following the completion of the sale, the director owned 128,023 shares in the company, valued at $25,325,509.86. The trade was a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. B. Bynoe bought 740 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were acquired at an average price of $203.00 per share, with a total value of $150,220.00. Following the purchase, the director owned 5,187 shares of the company’s stock, valued at $1,052,961. The trade was a 16.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 61.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BTIG Research assumed coverage on TKO Group in a research note on Monday, October 6th. They issued a “buy” rating and a $235.00 target price for the company. Seaport Res Ptn raised TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Northcoast Research downgraded TKO Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TKO Group in a research note on Tuesday, October 14th. Finally, UBS Group raised their price objective on TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.21.

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.