Commerce Bank Purchases 2,422 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Commerce Bank has increased its holdings in TKO Group Holdings, Inc. by 8.7%, acquiring an additional 2,422 shares, bringing its total to 30,206 shares valued at approximately $4.62 million.
• TKO Group reported earnings of $0.69 per share for the last quarter, exceeding analysts' expectations of $0.55, with revenues also surpassing forecasts at $1.27 billion.
• Analysts have shown a positive outlook for TKO Group, with several firms raising their target price; Guggenheim increased it from $175.00 to $190.00, maintaining a "buy" rating.

Commerce Bank boosted its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,206 shares of the company's stock after buying an additional 2,422 shares during the quarter. Commerce Bank's holdings in TKO Group were worth $4,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ninety One UK Ltd raised its holdings in shares of TKO Group by 2.1% during the 1st quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock valued at $647,727,000 after purchasing an additional 87,165 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in shares of TKO Group by 7.4% during the 4th quarter. Independent Franchise Partners LLP now owns 3,409,140 shares of the company's stock valued at $484,473,000 after purchasing an additional 235,420 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of TKO Group by 12.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company's stock valued at $299,961,000 after purchasing an additional 210,469 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of TKO Group by 57.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock valued at $238,574,000 after purchasing an additional 611,178 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in TKO Group by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,255,099 shares of the company's stock worth $178,777,000 after acquiring an additional 13,181 shares during the period. Institutional investors own 89.79% of the company's stock.

TKO Group Price Performance

TKO stock traded down $1.55 during trading on Tuesday, reaching $164.21. 92,273 shares of the company were exchanged, compared to its average volume of 1,271,685. The company has a 50-day moving average of $169.52 and a two-hundred day moving average of $160.31. The company has a market capitalization of $32.50 billion, a price-to-earnings ratio of 83.56 and a beta of 0.72. TKO Group Holdings, Inc. has a twelve month low of $107.67 and a twelve month high of $182.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25.

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

TKO Group Announces Dividend

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

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Nick Khan sold 45,168 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $170.82, for a total value of $7,715,597.76. Following the completion of the transaction, the director directly owned 156,494 shares in the company, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the completion of 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 disclosure for this purchase can be found here. In the last ninety days, insiders sold 73,725 shares of company stock worth $12,501,561. 61.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on TKO. Sanford C. Bernstein began coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price on the stock. Northcoast Research downgraded shares of TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Guggenheim boosted their price objective on shares of TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Susquehanna began coverage on shares of TKO Group in a report on Monday, April 28th. They set a "positive" rating and a $180.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TKO Group presently has a consensus rating of "Moderate Buy" and an average price target of $171.33.

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.