Epoch Investment Partners Inc. Reduces Stock Holdings in TKO Group Holdings, Inc. $TKO

Key Points

• Epoch Investment Partners Inc. reduced its stake in TKO Group Holdings by 40.4% during the first quarter, now owning 0.30% of the company valued at approximately $77.57 million.
• Despite the reduction in stake by Epoch, other institutional investors have shown increased interest, with firms like Sentry Investment Management and Farther Finance Advisors acquiring new stakes in TKO Group.
• TKO Group reported earnings of $1.17 per share for the last quarter, missing expectations, though revenue rose 53.7% year-over-year to $1.31 billion.

Epoch Investment Partners Inc. lessened its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 40.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 507,600 shares of the company's stock after selling 343,963 shares during the period. Epoch Investment Partners Inc. owned about 0.30% of TKO Group worth $77,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of TKO Group by 19.4% during the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock valued at $1,218,951,000 after acquiring an additional 1,295,817 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of TKO Group by 2.1% during the first quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock valued at $647,727,000 after acquiring an additional 87,165 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of TKO Group by 12.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company's stock valued at $299,961,000 after acquiring an additional 210,469 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of TKO Group by 57.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock valued at $238,574,000 after acquiring an additional 611,178 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of TKO Group by 242.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock valued at $228,675,000 after acquiring an additional 1,059,636 shares in the last quarter. Institutional investors own 89.79% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TKO. UBS Group lifted their price objective on shares of TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Northcoast Research downgraded shares of TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Bank of America lifted their target price on TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Roth Capital raised their target price on shares of TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group raised their target price on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.69.

TKO Group Price Performance

TKO traded up $4.49 during midday trading on Thursday, hitting $190.14. 801,631 shares of the company traded hands, compared to its average volume of 1,061,226. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $37.70 billion, a price-to-earnings ratio of 78.57 and a beta of 0.72. TKO Group Holdings, Inc. has a 52-week low of $113.16 and a 52-week high of $194.76. The business has a 50 day simple moving average of $175.23 and a two-hundred day simple moving average of $163.32.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business's revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. On average, equities analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In other TKO Group news, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of TKO Group stock in a transaction dated Tuesday, June 3rd. The stock was acquired at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the transaction, the insider directly owned 4,158,517 shares of the company's stock, valued at approximately $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. B. Bynoe bought 980 shares of TKO Group stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $169.59 per share, with a total value of $166,198.20. Following the completion of the transaction, the director directly owned 2,747 shares of the company's stock, valued at approximately $465,863.73. The trade was a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 73,725 shares of company stock worth $12,501,561 over the last three months. 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.