Ascent Group LLC Makes New $325,000 Investment in TKO Group Holdings, Inc. $TKO

Key Points

• Ascent Group LLC recently acquired a new stake in TKO Group Holdings, purchasing 2,127 shares valued at approximately $325,000 in the first quarter, highlighting increased institutional interest in the company.
• Insider trading activity includes Nick Khan, a director, selling 45,168 shares for over $7.7 million, indicating notable changes in insider holdings.
• TKO Group announced a quarterly dividend increase from $0.38 to $0.76 per share, reflecting strong financial performance with a 53.7% year-over-year revenue growth.

Ascent Group LLC purchased a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,127 shares of the company's stock, valued at approximately $325,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Focus Partners Advisor Solutions LLC boosted its stake in shares of TKO Group by 3.6% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 1,835 shares of the company's stock worth $261,000 after acquiring an additional 63 shares during the last quarter. Simon Quick Advisors LLC lifted its stake in shares of TKO Group by 1.1% during the 1st quarter. Simon Quick Advisors LLC now owns 7,558 shares of the company's stock valued at $1,155,000 after buying an additional 82 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of TKO Group by 3.2% during the 1st quarter. Pekin Hardy Strauss Inc. now owns 3,210 shares of the company's stock valued at $491,000 after buying an additional 100 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its holdings in TKO Group by 4.0% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 2,837 shares of the company's stock valued at $434,000 after acquiring an additional 108 shares during the last quarter. Finally, Compass Capital Corp MA ADV increased its holdings in TKO Group by 3.3% in the 1st quarter. Compass Capital Corp MA ADV now owns 3,444 shares of the company's stock valued at $525,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

Analyst Upgrades and Downgrades

TKO has been the topic of a number of research reports. Baird R W upgraded shares of TKO Group to a "strong-buy" rating in a report on Friday, September 5th. UBS Group boosted their target price on shares of TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. 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 report on Wednesday, August 13th. Zacks Research upgraded shares of TKO Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, Seaport Res Ptn downgraded shares of TKO Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TKO Group has an average rating of "Moderate Buy" and a consensus price target of $192.21.

Insider Buying and Selling

In related news, Director Nick Khan sold 9,519 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the completion of the sale, the director owned 137,456 shares of the company's stock, valued at $25,625,922.08. This represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 73,725 shares of company stock worth $12,767,807 over the last three months. Corporate insiders own 53.80% of the company's stock.

TKO Group Stock Up 0.0%

Shares of NYSE TKO traded up $0.09 during midday trading on Friday, reaching $202.33. 897,072 shares of the company's stock traded hands, compared to its average volume of 692,505. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. The stock's 50 day simple moving average is $178.94 and its 200-day simple moving average is $165.25. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $204.10. The company has a market cap of $40.12 billion, a price-to-earnings ratio of 73.88 and a beta of 0.78.

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 analysts' consensus estimates of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. TKO Group's revenue for the quarter was up 53.7% on a year-over-year basis. On average, analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from TKO Group's previous quarterly dividend of $0.38. This represents a $3.04 dividend on an annualized basis and a yield of 1.5%. TKO Group's dividend payout ratio is currently 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.