Annex Advisory Services LLC Raises Stake in TKO Group Holdings, Inc. $TKO

Key Points

• Annex Advisory Services increased its TKO Group stake by 1.3% in the second quarter, owning 418,586 shares valued at approximately $84.3 million. Institutional investors collectively own 89.79% of the company.
• TKO reported quarterly revenue of $1.55 billion, up 18.2% year over year, but earnings per share of $1.34 fell short of analysts’ $1.41 estimate. The company raised its quarterly dividend to $0.79 per share, representing a 1.6% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $237.14, above the stock’s reported opening price of $194.44; targets from BTIG and Morgan Stanley were set at $237 and $230, respectively.

Annex Advisory Services LLC raised its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 418,586 shares of the company's stock after acquiring an additional 5,483 shares during the period. TKO Group comprises approximately 1.4% of Annex Advisory Services LLC's portfolio, making the stock its 21st biggest holding. Annex Advisory Services LLC owned about 0.22% of TKO Group worth $84,266,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TKO. CreativeOne Wealth LLC boosted its stake in shares of TKO Group by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,586 shares of the company's stock valued at $541,000 after purchasing an additional 54 shares in the last quarter. Stephens Inc. AR raised its position in TKO Group by 2.7% in the 4th quarter. Stephens Inc. AR now owns 2,160 shares of the company's stock worth $451,000 after purchasing an additional 56 shares during the period. Sunbelt Securities Inc. raised its position in TKO Group by 6.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the company's stock worth $192,000 after purchasing an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in TKO Group by 29.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 249 shares of the company's stock worth $52,000 after purchasing an additional 57 shares during the last quarter. Finally, Colonial River Investments LLC lifted its stake in TKO Group by 4.5% in the fourth quarter. Colonial River Investments LLC now owns 1,414 shares of the company's stock worth $296,000 after purchasing an additional 61 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

TKO Group Price Performance

Shares of TKO Group stock opened at $194.44 on Wednesday. The company's fifty day simple moving average is $193.35 and its two-hundred day simple moving average is $196.80. TKO Group Holdings, Inc. has a 12-month low of $176.00 and a 12-month high of $226.94. The firm has a market cap of $36.80 billion, a PE ratio of 68.22 and a beta of 0.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.58.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.07). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. TKO Group had a net margin of 4.33% and a return on equity of 2.67%. The business's revenue was up 18.2% on a year-over-year basis. During the same period last year, the company posted $1.17 earnings per share. As a group, equities analysts expect that TKO Group Holdings, Inc. will post 5.18 EPS for the current year.

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.79 per share. The ex-dividend date was Monday, June 15th. This represents a $3.16 dividend on an annualized basis and a yield of 1.6%. This is a boost from TKO Group's previous quarterly dividend of $0.78. TKO Group's dividend payout ratio (DPR) is presently 110.88%.

Insider Buying and Selling

In other TKO Group news, Director Nick Khan sold 12,998 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $181.11, for a total transaction of $2,354,067.78. Following the completion of the transaction, the director owned 48,933 shares of the company's stock, valued at $8,862,255.63. This represents a 20.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 42,257 shares of company stock worth $7,946,068. Corporate insiders own 64.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TKO shares. Benchmark reaffirmed a "hold" rating on shares of TKO Group in a research note on Tuesday, August 4th. BTIG Research reissued a "buy" rating and issued a $237.00 target price on shares of TKO Group in a research note on Tuesday, August 4th. Wall Street Zen upgraded TKO Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. dropped their target price on TKO Group from $225.00 to $222.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. Finally, Morgan Stanley raised their price target on TKO Group from $225.00 to $230.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $237.14.

About TKO Group

TKO Group Holdings NYSE: TKO is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO's core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source