TKO Group Holdings, Inc. $TKO Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in TKO Group Holdings by 25.1%, now holding approximately 0.28% of the company's shares valued at $73.16 million.
• TKO Group reported $1.17 EPS for the last quarter, missing estimates, while revenue reached $1.31 billion, exceeding expectations by 5.5%.
• Several analysts have reiterated strong ratings for TKO Group, with price targets ranging from $180 to $225, indicating a general bullish outlook on the stock.

American Century Companies Inc. cut its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 25.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 478,746 shares of the company's stock after selling 160,087 shares during the quarter. American Century Companies Inc. owned approximately 0.28% of TKO Group worth $73,157,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of TKO Group by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock worth $1,218,951,000 after buying an additional 1,295,817 shares during the period. Invesco Ltd. raised its holdings in shares of TKO Group by 569.7% in the first quarter. Invesco Ltd. now owns 1,423,052 shares of the company's stock valued at $217,457,000 after acquiring an additional 1,210,563 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in TKO Group by 57.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock worth $238,574,000 after acquiring an additional 611,178 shares during the period. Sequoia Financial Advisors LLC bought a new position in TKO Group during the 1st quarter worth about $71,834,000. Finally, Steadfast Capital Management LP grew its holdings in TKO Group by 146.9% during the 4th quarter. Steadfast Capital Management LP now owns 710,784 shares of the company's stock worth $101,010,000 after acquiring an additional 422,900 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on TKO shares. Sanford C. Bernstein started coverage on TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price for the company. Guggenheim boosted their target price on shares of TKO Group from $200.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Morgan Stanley reissued an "outperform" rating on shares of TKO Group in a report on Sunday, August 10th. Roth Capital raised their target price on shares of TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TKO Group from $182.00 to $212.00 and gave the company an "overweight" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.69.

TKO Group Stock Performance

TKO stock traded up $1.4070 during midday trading on Friday, hitting $185.6470. 774,225 shares of the stock traded hands, compared to its average volume of 1,276,254. TKO Group Holdings, Inc. has a 1-year low of $113.16 and a 1-year high of $194.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. The stock's fifty day simple moving average is $173.63 and its 200-day simple moving average is $162.55. The firm has a market cap of $36.81 billion, a P/E ratio of 76.71 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company posted $0.72 EPS. The company's revenue was up 53.7% on a year-over-year basis. On average, analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.38 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. TKO Group's payout ratio is 62.81%.

Insider Activity

In other news, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the transaction, the insider directly owned 4,158,517 shares in the company, valued at $658,376,411.44. The trade was a 61.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,593,099.84. Following the completion of the transaction, the director owned 146,975 shares in the company, valued at $24,597,736. The trade was a 6.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,725 shares of company stock worth $12,501,561 over the last three months. 61.30% of the stock is currently owned by corporate insiders.

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.