Barings LLC Buys 2,801 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Barings LLC increased its stake in TKO Group Holdings, Inc. by 30%, owning 12,139 shares valued at approximately $1.86 million as of the latest SEC filing.
• TKO Group reported earnings of $0.69 EPS for the quarter, exceeding expectations of $0.55 EPS, with revenue of $1.27 billion surpassing analyst estimates.
• The company announced a quarterly dividend of $0.38, resulting in an annualized yield of 0.9% and a payout ratio of 77.16%.

Barings LLC lifted its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 30.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,139 shares of the company's stock after buying an additional 2,801 shares during the quarter. Barings LLC's holdings in TKO Group were worth $1,855,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TKO. Commerce Bank lifted its stake in TKO Group by 8.7% in the first quarter. Commerce Bank now owns 30,206 shares of the company's stock valued at $4,616,000 after buying an additional 2,422 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in TKO Group in the first quarter valued at approximately $623,000. US Bancorp DE lifted its stake in TKO Group by 33.5% in the first quarter. US Bancorp DE now owns 754 shares of the company's stock valued at $115,000 after buying an additional 189 shares during the last quarter. Natixis Advisors LLC lifted its stake in TKO Group by 2.8% in the first quarter. Natixis Advisors LLC now owns 98,350 shares of the company's stock valued at $15,029,000 after buying an additional 2,685 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in TKO Group in the first quarter valued at approximately $884,000. 89.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TKO Group

In other TKO Group news, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the purchase, the insider owned 4,158,517 shares in the company, valued at approximately $658,376,411.44. The trade was a 61.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nick Khan sold 45,168 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 156,494 shares of the company's stock, valued at $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,725 shares of company stock valued at $12,501,561. Company insiders own 53.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Susquehanna assumed coverage on TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Sanford C. Bernstein assumed coverage on TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price on the stock. The Goldman Sachs Group boosted their target price on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Northcoast Research lowered TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, TKO Group has a consensus rating of "Moderate Buy" and an average price target of $171.33.

TKO Group Stock Performance

Shares of TKO stock traded up $0.19 during mid-day trading on Monday, reaching $165.80. The stock had a trading volume of 630,460 shares, compared to its average volume of 746,227. The firm's 50 day simple moving average is $169.36 and its 200 day simple moving average is $160.14. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. TKO Group Holdings, Inc. has a one year low of $102.46 and a one year high of $182.60. The firm has a market cap of $32.81 billion, a PE ratio of 84.16 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.07 billion. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The business's revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted ($1.26) EPS. On average, analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's payout ratio is presently 77.16%.

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.