Bank of Nova Scotia Makes New $633,000 Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Bank of Nova Scotia acquired 4,144 shares of TKO Group Holdings, valued at approximately $633,000, marking a new investment in the company's stock.
• Major shareholder Lake West Voteco L.L.C increased its stake in TKO Group by 61.22% after purchasing over 1.5 million shares at an average price of $158.32 per share.
• Analysts have issued a largely positive outlook for TKO Group, with price targets raised by several firms, including UBS, which set a new target of $200.00 and rated it as a "buy."

Bank of Nova Scotia purchased a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,144 shares of the company's stock, valued at approximately $633,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sentry Investment Management LLC bought a new stake in TKO Group in the first quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new position in TKO Group during the 1st quarter valued at about $26,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of TKO Group in the first quarter worth about $27,000. Farther Finance Advisors LLC raised its stake in shares of TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after acquiring an additional 122 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of TKO Group by 229.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company's stock worth $37,000 after acquiring an additional 170 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Stock Performance

Shares of TKO stock traded up $6.14 on Tuesday, hitting $186.14. The company's stock had a trading volume of 1,223,296 shares, compared to its average volume of 1,300,233. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. The stock's 50 day moving average is $170.16 and its 200-day moving average is $160.94. TKO Group Holdings, Inc. has a fifty-two week low of $113.16 and a fifty-two week high of $187.01. The company has a market capitalization of $36.84 billion, a PE ratio of 76.92 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last announced 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 return on equity of 2.82% and a net margin of 5.40%. The company's quarterly revenue was up 53.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. Equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is 62.81%.

Insider Activity at TKO Group

In other TKO Group news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the acquisition, the insider directly owned 4,158,517 shares in the company, valued at $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. B. Bynoe acquired 980 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director owned 2,747 shares in the company, valued at $465,863.73. The trade was a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 73,725 shares of company stock worth $12,501,561 in the last quarter. 53.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TKO. Sanford C. Bernstein began coverage on shares of TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price target for the company. Roth Capital set a $210.00 price target on shares of TKO Group and gave the company a "buy" rating in a report on Tuesday. Guggenheim upped their price target on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a report on Friday, May 9th. UBS Group boosted their price objective on shares of TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TKO Group has a consensus rating of "Moderate Buy" and an average target price of $182.00.

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.