Allianz Asset Management GmbH Sells 4,111 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Allianz Asset Management GmbH reduced its stake in TKO Group Holdings, Inc. by 8.4%, owning 44,686 shares worth approximately $6.83 million after selling 4,111 shares in the 1st quarter.
• The company's quarterly earnings report revealed an EPS of $0.69, surpassing estimates, with revenue reaching $1.27 billion, a 3.8% increase compared to the previous year.
• Insider trading activity included Director Nick Khan selling 9,519 shares for $1.59 million, while Director Peter C. B. Bynoe acquired 980 shares, reflecting significant changes in ownership among company insiders.

Allianz Asset Management GmbH lessened its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,686 shares of the company's stock after selling 4,111 shares during the period. Allianz Asset Management GmbH's holdings in TKO Group were worth $6,828,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in TKO Group by 10.0% during the 4th quarter. LPL Financial LLC now owns 37,518 shares of the company's stock worth $5,332,000 after purchasing an additional 3,426 shares in the last quarter. Norges Bank purchased a new stake in shares of TKO Group in the fourth quarter worth approximately $104,613,000. New Age Alpha Advisors LLC purchased a new position in shares of TKO Group in the 4th quarter valued at $520,000. Pictet Asset Management Holding SA boosted its position in shares of TKO Group by 5.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 9,604 shares of the company's stock worth $1,365,000 after purchasing an additional 481 shares in the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new stake in TKO Group during the 4th quarter worth about $483,000. 89.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Guggenheim increased their target price on shares of TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Sanford C. Bernstein began coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price for the company. Susquehanna assumed coverage on shares of TKO Group in a research report on Monday, April 28th. They set a "positive" rating and a $180.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $171.33.

TKO Group Trading Up 0.4%

TKO stock traded up $0.76 during midday trading on Thursday, hitting $168.57. 114,595 shares of the company's stock were exchanged, compared to its average volume of 1,284,698. The stock has a market capitalization of $33.36 billion, a PE ratio of 85.36 and a beta of 0.73. The business has a 50-day simple moving average of $168.96 and a two-hundred day simple moving average of $159.57. TKO Group Holdings, Inc. has a 1-year low of $102.46 and a 1-year high of $182.60. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.29.

TKO Group (NYSE:TKO - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.14. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.07 billion. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.26) EPS. On average, sell-side analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.90%. The ex-dividend date was Friday, June 13th. TKO Group's payout ratio is 77.16%.

Insider Activity at TKO Group

In related news, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were 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 in the company, valued at $24,597,736. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter C. B. Bynoe bought 980 shares of TKO Group stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director directly owned 2,747 shares in the company, valued at $465,863.73. This trade represents a 55.46% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 73,725 shares of company stock valued at $12,501,561. Insiders own 61.30% of the company's stock.

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.