CenterBook Partners LP Sells 6,508 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• CenterBook Partners LP has reduced its stake in TKO Group Holdings by 31% during Q1, owning 14,505 shares valued at $2.22 million after selling 6,508 shares.
• Vanguard Group Inc. and Ameriprise Financial Inc. have both increased their holdings in TKO Group by 19.4% and 57.3% respectively, showcasing growing institutional interest.
• TKO Group recently declared a quarterly dividend of $0.38 per share, reflecting a 1.0% yield, with a payout ratio of 77.16%.

CenterBook Partners LP trimmed its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 31.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,505 shares of the company's stock after selling 6,508 shares during the quarter. CenterBook Partners LP's holdings in TKO Group were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Focus Partners Advisor Solutions LLC increased its position in TKO Group by 3.6% during the fourth 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 period. Bessemer Group Inc. increased its holdings in TKO Group by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 26,174 shares of the company's stock valued at $3,720,000 after buying an additional 78 shares during the period. Simon Quick Advisors LLC increased its holdings in TKO Group by 1.1% in 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 during the period. Coldstream Capital Management Inc. increased its holdings in TKO Group by 2.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,160 shares of the company's stock valued at $449,000 after buying an additional 90 shares during the period. Finally, Utah Retirement Systems increased its holdings in TKO Group by 2.4% in the 4th quarter. Utah Retirement Systems now owns 4,300 shares of the company's stock valued at $611,000 after buying an additional 100 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Price Performance

NYSE TKO traded up $2.40 on Friday, hitting $163.14. 1,539,909 shares of the company were exchanged, compared to its average volume of 882,431. The firm has a 50 day moving average of $169.75 and a two-hundred day moving average of $160.56. The company has a market cap of $32.29 billion, a P/E ratio of 67.41 and a beta of 0.72. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.28. TKO Group Holdings, Inc. has a 1-year low of $113.16 and a 1-year high of $182.60.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%. The firm's quarterly revenue was up 53.7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. On average, equities analysts predict 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 given a dividend of $0.38 per share. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.9%. TKO Group's dividend payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Susquehanna assumed coverage on shares of TKO Group in a report on Monday, April 28th. They issued a "positive" rating and a $180.00 price target on the stock. UBS Group boosted their price target on shares of TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a report on Monday, May 12th. Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. Finally, Sanford C. Bernstein initiated coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target on the stock. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $173.83.

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 business's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the transaction, the insider owned 4,158,517 shares in the company, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nick Khan sold 45,168 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the transaction, the director owned 156,494 shares in the company, valued at approximately $26,732,305.08. The trade was a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,725 shares of company stock worth $12,501,561. Company insiders own 61.30% of the company's stock.

About TKO Group

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.