Mizuho Securities USA LLC Buys New Position in TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Mizuho Securities USA LLC has acquired 5,332 shares of TKO Group Holdings, valued at approximately $815,000, during the 1st quarter, reflecting growing institutional interest in the company.
• Director Nick Khan sold 45,168 shares at an average price of $170.82, reducing his position by 22.40%, while a major shareholder, Lake West Voteco L.L.C, increased its stake significantly by acquiring 1,579,080 shares.
• Bank of America has raised its target price for TKO Group shares from $200.00 to $210.00, maintaining a "buy" rating, amid positive revenue growth and analyst optimism.

Mizuho Securities USA LLC bought a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,332 shares of the company's stock, valued at approximately $815,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TKO. Sentry Investment Management LLC purchased a new position in shares of TKO Group during the first quarter valued at approximately $25,000. Hemington Wealth Management boosted its stake 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 buying an additional 136 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of TKO Group in the first quarter worth $26,000. Bartlett & CO. Wealth Management LLC purchased a new stake in TKO Group during the first quarter valued at $27,000. Finally, Farther Finance Advisors LLC lifted its holdings in TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after acquiring an additional 122 shares during the period. Institutional investors own 89.79% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TKO. Sanford C. Bernstein began coverage on TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price objective for the company. Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Roth Capital set a $210.00 price objective on shares of TKO Group and gave the company a "buy" rating in a research report on Tuesday. Bank of America increased their price target on TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Susquehanna started coverage on TKO Group in a research report on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy 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 $183.15.

Insiders Place Their Bets

In related news, Director Peter C. B. Bynoe bought 980 shares of the business's stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the purchase, the director directly owned 2,747 shares of the company's stock, valued at approximately $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the transaction, the insider owned 4,158,517 shares of the company's stock, valued at approximately $658,376,411.44. The trade was a 61.22% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 73,725 shares of company stock worth $12,501,561 over the last 90 days. Company insiders own 61.30% of the company's stock.

TKO Group Trading Up 0.0%

NYSE TKO traded up $0.02 during trading on Thursday, hitting $191.30. The stock had a trading volume of 1,159,864 shares, compared to its average volume of 1,053,898. TKO Group Holdings, Inc. has a one year low of $113.16 and a one year high of $194.76. The stock has a 50 day simple moving average of $171.58 and a 200 day simple moving average of $161.58. The stock has a market capitalization of $37.86 billion, a price-to-earnings ratio of 79.05 and a beta of 0.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30.

TKO Group (NYSE:TKO - Get Free Report) 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 business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%. The firm's revenue for the quarter was up 53.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. Sell-side analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current 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 paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. TKO Group's payout ratio is 62.81%.

TKO Group 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.