Algert Global LLC Sells 26,136 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Algert Global LLC reduced its stake in TKO Group Holdings by 45.6%, selling 26,136 shares and leaving them with 31,202 shares worth approximately $4.77 million.
• Analysts have shown optimism for TKO Group, with target prices raised by firms such as Goldman Sachs, which increased its target from $170 to $188, rating the stock as a "buy."
• TKO Group has announced a quarterly dividend of $0.38 per share, reflecting an annualized basis yield of 0.8% and a payout ratio of 62.81%.

Algert Global LLC lessened its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 45.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,202 shares of the company's stock after selling 26,136 shares during the quarter. Algert Global LLC's holdings in TKO Group were worth $4,768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TKO. Sentry Investment Management LLC bought a new stake in TKO Group in the first quarter valued at about $25,000. Hemington Wealth Management grew its stake in TKO Group by 425.0% in 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 during the period. N.E.W. Advisory Services LLC acquired a new position in TKO Group in the first quarter valued at about $26,000. Bartlett & CO. Wealth Management LLC acquired a new position in TKO Group in the first quarter valued at about $27,000. Finally, Farther Finance Advisors LLC grew its stake 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.

Analysts Set New Price Targets

A number of research analysts have issued reports on TKO shares. Citigroup boosted their target price on TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 15th. UBS Group upped their price objective on TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an "outperform" rating on shares of TKO Group in a research report on Sunday, August 10th. Sanford C. Bernstein started coverage on TKO Group in a research report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price objective for the company. Finally, Susquehanna started coverage on TKO Group in a research report on Monday, April 28th. They set a "positive" rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, TKO Group has a consensus rating of "Moderate Buy" and an average target price of $189.69.

TKO Group Stock Up 0.8%

NYSE TKO traded up $1.4070 during trading hours on Friday, hitting $185.6470. 774,225 shares of the company traded hands, compared to its average volume of 1,276,254. The business's 50-day moving average is $173.63 and its 200-day moving average is $162.55. TKO Group Holdings, Inc. has a twelve month low of $113.16 and a twelve month high of $194.76. 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 has a market capitalization of $36.81 billion, a price-to-earnings ratio of 76.71 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. TKO Group's quarterly revenue was up 53.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Sell-side analysts anticipate 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. Shareholders of record on Friday, June 13th were paid a $0.38 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.52 annualized dividend and a yield of 0.8%. TKO Group's dividend payout ratio is currently 62.81%.

Insider Buying and Selling at TKO Group

In other news, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were bought at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the purchase, the insider owned 4,158,517 shares in the company, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the purchase, the director owned 2,747 shares of the company's stock, valued at $465,863.73. This trade represents a 55.46% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 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.

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.