1832 Asset Management L.P. Acquires New Position in TKO Group Holdings, Inc. $TKO

Key Points

• 1832 Asset Management L.P. acquired a new stake of 31,000 shares in TKO Group Holdings, valued at approximately $4.7 million, signaling increased institutional interest in the company.
• Analysts have raised their price targets for TKO Group, with Citigroup increasing its target from $200 to $225, reflecting positive sentiment around the stock.
• TKO Group recently declared a quarterly dividend of $0.38 per share, representing an annualized dividend yield of 0.8% based on their payout ratio of 62.81%.

1832 Asset Management L.P. purchased a new stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 31,000 shares of the company's stock, valued at approximately $4,737,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of TKO Group by 19.4% in 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. Ninety One UK Ltd grew its position in TKO Group by 2.1% during the 1st quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock worth $647,727,000 after purchasing an additional 87,165 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in TKO Group by 12.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company's stock worth $299,961,000 after purchasing an additional 210,469 shares during the last quarter. Ameriprise Financial Inc. grew its position in TKO Group by 57.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock worth $238,574,000 after purchasing an additional 611,178 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in TKO Group by 242.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock worth $228,675,000 after purchasing an additional 1,059,636 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

Insider Transactions at TKO Group

In other TKO Group news, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was acquired at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the acquisition, the insider directly owned 4,158,517 shares of the company's stock, valued at $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nick Khan sold 9,519 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $167.36, for a total transaction of $1,593,099.84. Following the sale, the director directly owned 146,975 shares of the company's stock, valued at $24,597,736. The trade was a 6.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,725 shares of company stock valued at $12,501,561 over the last 90 days. 61.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TKO shares. Morgan Stanley reissued an "outperform" rating on shares of TKO Group in a research report on Sunday, August 10th. UBS Group boosted their target price on shares of TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Bank of America boosted their target price on shares of TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of TKO Group from $182.00 to $212.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Guggenheim boosted their target price on shares of TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, TKO Group has a consensus rating of "Moderate Buy" and an average price target of $189.69.

TKO Group Price Performance

NYSE:TKO traded up $4.49 during trading hours on Thursday, reaching $190.14. 801,631 shares of the company were exchanged, compared to its average volume of 1,261,804. 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's 50-day moving average is $174.94 and its 200-day moving average is $163.20. The firm has a market cap of $37.70 billion, a PE ratio of 78.57 and a beta of 0.72. TKO Group Holdings, Inc. has a twelve month low of $113.16 and a twelve month high of $194.76.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business's revenue was up 53.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, sell-side analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. TKO Group's dividend payout ratio is presently 62.81%.

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.