Entropy Technologies LP Acquires New Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Entropy Technologies LP has invested $336,000 in TKO Group Holdings, purchasing 2,200 shares.
• Invesco Ltd. significantly increased its stake in TKO Group by 569.7%, now holding over 1.4 million shares worth approximately $217.5 million.
• TKO Group reported a 53.7% increase in revenue year-over-year, totaling $1.31 billion, despite missing EPS estimates.

Entropy Technologies LP bought a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,200 shares of the company's stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TKO. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TKO Group in the 1st quarter worth about $1,163,000. Friedenthal Financial purchased a new position in shares of TKO Group in the 1st quarter worth about $895,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of TKO Group in the 1st quarter worth about $464,000. Moore Capital Management LP boosted its holdings in TKO Group by 1,625.0% during the 4th quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock valued at $59,443,000 after acquiring an additional 394,038 shares during the period. Finally, Ninety One SA PTY Ltd boosted its holdings in TKO Group by 3.4% during the 1st quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company's stock valued at $10,902,000 after acquiring an additional 2,330 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Nick Khan sold 45,168 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director owned 156,494 shares in the company, valued at $26,732,305.08. This trade represents a 22.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $169.59 per share, with a total value of $166,198.20. Following the purchase, the director owned 2,747 shares in the company, valued at $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 73,725 shares of company stock worth $12,501,561 in the last quarter. 61.30% of the stock is owned by company insiders.

TKO Group Trading Down 1.1%

Shares of TKO stock traded down $2.19 during trading hours on Friday, reaching $188.81. The company's stock had a trading volume of 719,198 shares, compared to its average volume of 1,069,832. The stock has a market capitalization of $37.37 billion, a P/E ratio of 78.02 and a beta of 0.72. TKO Group Holdings, Inc. has a one year low of $113.16 and a one year high of $194.76. The firm's fifty day simple moving average is $172.03 and its 200 day simple moving average is $161.83. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company's revenue for the quarter was up 53.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is presently 62.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TKO shares. JPMorgan Chase & Co. increased 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. The Goldman Sachs Group increased 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. Northcoast Research cut TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. Guggenheim increased their target price on TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Roth Capital increased their target price on TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $187.38.

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.