California State Teachers Retirement System lessened its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,729 shares of the company's stock after selling 1,560 shares during the quarter. California State Teachers Retirement System's holdings in TKO Group were worth $15,446,315 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of TKO Group by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,855,077 shares of the company's stock valued at $387,072,000 after purchasing an additional 49,486 shares in the last quarter. Bank of America Corp DE raised its stake in shares of TKO Group by 22.5% in the first quarter. Bank of America Corp DE now owns 1,393,727 shares of the company's stock worth $281,045,000 after purchasing an additional 256,305 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of TKO Group by 108,668.4% in the fourth quarter. Vontobel Holding Ltd. now owns 1,268,239 shares of the company's stock worth $265,062,000 after acquiring an additional 1,267,073 shares during the period. Norges Bank purchased a new position in TKO Group during the 4th quarter valued at $150,602,000. Finally, Munro Partners increased its holdings in shares of TKO Group by 24.4% during the fourth quarter. Munro Partners now owns 712,256 shares of the company's stock valued at $148,862,000 after acquiring an additional 139,600 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CEO Ariel Emanuel sold 24,702 shares of TKO Group stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $194.39, for a total value of $4,801,821.78. Following the completion of the sale, the chief executive officer directly owned 174,334 shares in the company, valued at approximately $33,888,786.26. The trade was a 12.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Shapiro sold 19,120 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $194.39, for a total transaction of $3,716,736.80. Following the transaction, the insider directly owned 147,071 shares in the company, valued at $28,589,131.69. This trade represents a 11.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 110,815 shares of company stock valued at $21,206,289 over the last three months. Corporate insiders own 64.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein cut their price objective on TKO Group from $240.00 to $235.00 and set an "outperform" rating on the stock in a report on Tuesday, July 28th. Guggenheim lifted their price objective on shares of TKO Group from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. BTIG Research reissued a "buy" rating and issued a $237.00 price objective on shares of TKO Group in a research report on Tuesday, August 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of TKO Group in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. decreased their target price on TKO Group from $225.00 to $222.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $238.08.
Check Out Our Latest Report on TKO
TKO Group Stock Performance
Shares of TKO stock traded down $1.49 on Tuesday, hitting $192.23. The company had a trading volume of 259,621 shares, compared to its average volume of 1,240,979. TKO Group Holdings, Inc. has a twelve month low of $176.00 and a twelve month high of $226.94. The firm has a market cap of $36.38 billion, a P/E ratio of 67.48 and a beta of 0.62. The company has a 50-day moving average price of $188.27 and a 200-day moving average price of $194.36. 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 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.07). TKO Group had a return on equity of 2.67% and a net margin of 4.33%.The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the prior year, the firm posted $1.17 EPS. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, equities research analysts predict that TKO Group Holdings, Inc. will post 5.18 earnings per share for the current fiscal year.
TKO Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.79 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.16 annualized dividend and a yield of 1.6%. TKO Group's dividend payout ratio (DPR) is 110.88%.
TKO Group Company Profile
(
Free Report)
TKO Group Holdings, Inc is a sports and entertainment company formed in 2023 through the combination of Endeavor Group Holdings' Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE) businesses. The company operates two globally recognized sports properties, producing live events and distributing related programming through television, streaming, digital media and other platforms.
UFC is a mixed martial arts organization that promotes events, develops athletes and licenses media rights, sponsorships, merchandise and other commercial products.
Further Reading
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