Axxcess Wealth Management LLC Purchases New Stake in TKO Group Holdings, Inc. $TKO

Key Points

• Axxcess Wealth Management LLC purchased a new stake in TKO Group Holdings, valued at approximately $260,000 during the second quarter.
• Wall Street analysts have recently boosted their price targets for TKO Group, with targets rising to between $212.00 and $235.00, indicating a generally positive outlook.
• TKO Group recently increased its quarterly dividend from $0.38 to $0.76 per share and approved a stock buyback plan allowing repurchases of up to $1 billion in shares, signaling confidence in its stock value.

Axxcess Wealth Management LLC purchased a new stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,428 shares of the company's stock, valued at approximately $260,000.

A number of other institutional investors have also recently modified their holdings of the business. Jag Capital Management LLC purchased a new stake in shares of TKO Group in the second quarter valued at approximately $13,244,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of TKO Group by 128.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,823 shares of the company's stock valued at $1,787,000 after buying an additional 5,514 shares in the last quarter. CWM LLC boosted its stake in shares of TKO Group by 39.2% in the second quarter. CWM LLC now owns 742 shares of the company's stock valued at $135,000 after buying an additional 209 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of TKO Group by 2.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,210 shares of the company's stock valued at $1,494,000 after buying an additional 167 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of TKO Group in the second quarter valued at approximately $231,000. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TKO has been the topic of a number of research analyst reports. Sanford C. Bernstein boosted their target price on TKO Group from $190.00 to $230.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. boosted their target price on TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Baird R W upgraded TKO Group to a "strong-buy" rating in a research report on Friday, September 5th. UBS Group boosted their target price on TKO Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Northcoast Research downgraded TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $210.21.

Insider Buying and Selling at TKO Group

In related news, Director Nick Khan sold 45,168 shares of the company's stock in a transaction 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 directly owned 156,494 shares in the company, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. B. Bynoe bought 740 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was acquired at an average price of $203.00 per share, with a total value of $150,220.00. Following the completion of the purchase, the director directly owned 5,187 shares of the company's stock, valued at approximately $1,052,961. The trade was a 16.64% increase in their position. The disclosure for this purchase can be found here. Insiders sold 73,725 shares of company stock valued at $12,966,373 over the last quarter. Insiders own 61.30% of the company's stock.

TKO Group Stock Up 0.6%

Shares of NYSE:TKO opened at $188.98 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. TKO Group Holdings, Inc. has a 52-week low of $114.01 and a 52-week high of $212.49. The stock's fifty day simple moving average is $193.02 and its 200-day simple moving average is $173.52. The company has a market capitalization of $37.47 billion, a P/E ratio of 78.09 and a beta of 0.76.

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 (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The firm's revenue was up 53.7% compared to the same quarter last year. As a group, equities research analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.76 dividend. This is an increase from TKO Group's previous quarterly dividend of $0.38. This represents a $3.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, September 15th. TKO Group's dividend payout ratio (DPR) is currently 125.62%.

TKO Group declared that its board has approved a stock buyback plan on Monday, September 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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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