Bank of New York Mellon Corp Boosts Stock Holdings in TKO Group Holdings, Inc. $TKO

Key Points

• Bank of New York Mellon boosted its TKO Group stake by 27.1% in the fourth quarter, and several other institutional investors also increased holdings, with institutions owning about 89.79% of the stock.
• Analysts are mixed on TKO: Citigroup downgraded the stock to hold, while others maintained or raised targets, leaving the overall consensus at a Moderate Buy with an average price target of $233.73.
• TKO reported better-than-expected quarterly results with EPS of $1.12 and revenue of $1.60 billion, and it also raised its quarterly dividend to $0.79 per share from $0.78.

Bank of New York Mellon Corp increased its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 433,460 shares of the company's stock after purchasing an additional 92,512 shares during the period. Bank of New York Mellon Corp owned 0.22% of TKO Group worth $90,593,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TKO. Massachusetts Financial Services Co. MA boosted its holdings in TKO Group by 54.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,185,769 shares of the company's stock worth $665,826,000 after acquiring an additional 1,128,749 shares in the last quarter. State Street Corp raised its position in TKO Group by 20.3% during the third quarter. State Street Corp now owns 5,249,091 shares of the company's stock valued at $1,060,106,000 after acquiring an additional 887,401 shares in the last quarter. Norges Bank purchased a new position in TKO Group during the fourth quarter valued at approximately $150,602,000. Alliancebernstein L.P. boosted its position in TKO Group by 551.8% during the second quarter. Alliancebernstein L.P. now owns 494,964 shares of the company's stock worth $90,059,000 after purchasing an additional 419,021 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of TKO Group by 31.7% during the 3rd quarter. UBS Group AG now owns 1,274,142 shares of the company's stock valued at $257,326,000 after buying an additional 307,000 shares in the last quarter. Institutional investors own 89.79% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TKO. Citigroup downgraded TKO Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Wolfe Research reaffirmed a "peer perform" rating on shares of TKO Group in a report on Thursday, March 5th. Pivotal Research upped their target price on shares of TKO Group from $235.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Sanford C. Bernstein dropped their target price on shares of TKO Group from $250.00 to $240.00 and set an "outperform" rating for the company in a report on Monday, April 27th. Finally, Zacks Research raised shares of TKO Group from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $233.73.

Insider Transactions at TKO Group

In other TKO Group news, CFO Andrew M. Schleimer bought 2,696 shares of TKO Group stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $185.44 per share, with a total value of $499,946.24. Following the completion of the acquisition, the chief financial officer owned 30,240 shares in the company, valued at $5,607,705.60. The trade was a 9.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nick Khan sold 9,518 shares of the firm's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $185.99, for a total value of $1,770,252.82. Following the completion of the sale, the director directly owned 91,100 shares of the company's stock, valued at approximately $16,943,689. This trade represents a 9.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 24,308 shares of company stock valued at $4,499,679 over the last ninety days. 64.30% of the stock is owned by insiders.

TKO Group Stock Down 0.5%

TKO stock opened at $202.55 on Tuesday. The company's 50 day moving average price is $192.90 and its 200 day moving average price is $200.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. TKO Group Holdings, Inc. has a fifty-two week low of $152.29 and a fifty-two week high of $226.94. The firm has a market capitalization of $39.32 billion, a price-to-earnings ratio of 75.58 and a beta of 0.59.

TKO Group (NYSE:TKO - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The business's quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 4.96 EPS for the current fiscal year.

TKO Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.79 dividend. This is an increase from TKO Group's previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, June 15th. TKO Group's payout ratio is currently 116.42%.

TKO Group Company Profile

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.

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