72,789 Shares in TKO Group Holdings, Inc. $TKO Bought by Jag Capital Management LLC

Key Points

• Jag Capital Management LLC has acquired 72,789 shares of TKO Group Holdings, Inc., valued at approximately $13.24 million, making it 1.5% of their holdings and the company's 24th largest holding.
• TKO Group has seen multiple institutional investment changes, with notable increases including Hemington Wealth Management's holdings by 425% in the first quarter.
• The company announced a quarterly dividend of $0.76 per share, up from $0.38, and initiated a $1 billion share buyback program, indicating confidence in the stock's value.

Jag Capital Management LLC purchased a new stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 72,789 shares of the company's stock, valued at approximately $13,244,000. TKO Group comprises 1.5% of Jag Capital Management LLC's holdings, making the stock its 24th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Hemington Wealth Management increased its holdings in shares of TKO Group by 425.0% during the first quarter. Hemington Wealth Management now owns 168 shares of the company's stock valued at $25,000 after acquiring an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in TKO Group in the 1st quarter worth approximately $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in TKO Group in the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC grew its position in TKO Group by 129.8% during the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after purchasing an additional 122 shares during the last quarter. Finally, Eastern Bank acquired a new position in TKO Group during the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TKO shares. Baird R W upgraded TKO Group to a "strong-buy" rating in a research report on Friday, September 5th. Robert W. Baird upped their price objective on shares of TKO Group from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, September 16th. Bank of America increased their price objective on shares of TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Guggenheim raised their target price on shares of TKO Group from $205.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of TKO Group in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.07.

Insider Transactions at TKO Group

In related news, Director Peter C. B. Bynoe purchased 740 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were purchased at an average cost 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. This represents a 16.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nick Khan sold 9,519 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $197.82, for a total value of $1,883,048.58. Following the transaction, the director directly owned 128,023 shares of the company's stock, valued at $25,325,509.86. The trade was a 6.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,725 shares of company stock valued at $12,966,373 in the last three months. Corporate insiders own 53.80% of the company's stock.

TKO Group Stock Up 0.8%

TKO stock opened at $188.64 on Tuesday. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $212.49. 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 firm's fifty day moving average is $190.73 and its 200 day moving average is $172.68. The firm has a market cap of $37.41 billion, a PE ratio of 77.95 and a beta of 0.76.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly 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). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. TKO Group's revenue for the quarter was up 53.7% on a year-over-year basis. On average, research analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

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

TKO Group declared that its board has authorized a share buyback program on Monday, September 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors 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.

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