Ameriprise Financial Inc. Sells 296,614 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Ameriprise Financial Inc. reduced its holdings in TKO Group Holdings by 17.7%, selling 296,614 shares, and now owns approximately 1.38 million shares valued at $211 million.
• In the 1st quarter, major institutional investors like Vanguard Group and Invesco increased their stakes in TKO Group significantly, highlighting strong institutional interest.
• Analysts are optimistic about TKO Group, with upgrades and target price increases from firms like JPMorgan Chase and Bank of America, reflecting a consensus "Moderate Buy" rating.

Ameriprise Financial Inc. cut its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,381,644 shares of the company's stock after selling 296,614 shares during the period. Ameriprise Financial Inc. owned approximately 0.81% of TKO Group worth $211,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TKO. Vanguard Group Inc. raised its position 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 acquiring an additional 1,295,817 shares in the last quarter. Invesco Ltd. raised its position in shares of TKO Group by 569.7% in the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company's stock worth $217,457,000 after acquiring an additional 1,210,563 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of TKO Group by 242.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock worth $228,675,000 after acquiring an additional 1,059,636 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of TKO Group in the 1st quarter valued at about $71,834,000. Finally, Steadfast Capital Management LP grew its stake in shares of TKO Group by 146.9% in the 4th quarter. Steadfast Capital Management LP now owns 710,784 shares of the company's stock valued at $101,010,000 after buying an additional 422,900 shares during the period. 89.79% of the stock is owned by institutional investors.

Insider Buying and Selling at TKO Group

In related news, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the purchase, the insider owned 4,158,517 shares of the company's stock, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nick Khan sold 45,168 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76. Following the completion of the transaction, the director owned 156,494 shares in the company, valued at $26,732,305.08. The trade was a 22.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,725 shares of company stock worth $12,501,561. Insiders own 61.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on TKO Group from $182.00 to $212.00 and gave the company an "overweight" rating in a research note on Thursday. Susquehanna assumed coverage on TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 target price for the company. Bank of America raised their target price on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Morgan Stanley restated an "outperform" rating on shares of TKO Group in a research note on Sunday, August 10th. Finally, UBS Group raised their target price on TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.69.

TKO Group Price Performance

TKO stock opened at $185.6470 on Friday. The company has a market capitalization of $36.81 billion, a P/E ratio of 76.71 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 Holdings, Inc. has a 52-week low of $113.16 and a 52-week high of $194.76. The business has a 50-day simple moving average of $174.08 and a two-hundred day simple moving average of $162.75.

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

TKO Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.38 per share. The ex-dividend date 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 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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