City Center Advisors LLC Acquires Shares of 2,085 TKO Group Holdings, Inc. $TKO

Key Points

• City Center Advisors LLC recently acquired a stake in TKO Group Holdings, purchasing 2,085 shares valued at approximately $379,000.
• Wall Street analysts are optimistic about TKO Group, with Citigroup raising their price target from $200.00 to $225.00 and giving it a "buy" rating.
• TKO Group announced an increase in its quarterly dividend to $0.76, representing a yield of 1.5%, up from the previous $0.38 dividend.

City Center Advisors LLC acquired a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,085 shares of the company's stock, valued at approximately $379,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC lifted 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 valued at $261,000 after buying an additional 63 shares during the period. Simon Quick Advisors LLC lifted its position in TKO Group by 1.1% during the first 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. Pekin Hardy Strauss Inc. lifted its position in TKO Group by 3.2% during the first quarter. Pekin Hardy Strauss Inc. now owns 3,210 shares of the company's stock valued at $491,000 after buying an additional 100 shares during the period. Argonautica Private Wealth Management Inc. lifted its position in TKO Group by 4.0% during the first quarter. Argonautica Private Wealth Management Inc. now owns 2,837 shares of the company's stock valued at $434,000 after buying an additional 108 shares during the period. Finally, Compass Capital Corp MA ADV lifted its position in TKO Group by 3.3% during the first quarter. Compass Capital Corp MA ADV now owns 3,444 shares of the company's stock valued at $525,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 89.79% of the company's stock.

Wall Street Analysts Forecast Growth

TKO has been the subject of several recent research reports. Citigroup raised their price objective on TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Guggenheim lifted their price target on TKO Group from $200.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Sanford C. Bernstein began coverage on TKO Group in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target for the company. Bank of America lifted their price target on TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, UBS Group lifted their price target on TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $192.21.

Insider Buying and Selling

In related news, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $186.43, for a total value of $1,774,627.17. Following the completion of the sale, the director directly owned 137,456 shares in the company, valued at approximately $25,625,922.08. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 73,725 shares of company stock valued at $12,767,807. 61.30% of the stock is currently owned by company insiders.

TKO Group Price Performance

NYSE TKO opened at $202.33 on Friday. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $204.10. The stock has a 50-day moving average of $178.94 and a 200 day moving average of $165.22. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of 83.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. TKO Group's quarterly revenue was up 53.7% compared to the same quarter last year. On average, sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, September 15th. This is a positive change from TKO Group's previous quarterly dividend of $0.38. TKO Group's dividend payout ratio is 62.81%.

TKO Group 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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