Fifth Third Bancorp Buys 14,700 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Fifth Third Bancorp sharply increased its stake in TKO Group Holdings during the first quarter, buying 14,700 additional shares and lifting its total position to 15,951 shares worth about $3.2 million.
• TKO also saw notable insider buying: CEO Ariel Emanuel and insider Mark S. Shapiro each purchased about 10,800 shares in May, while insiders overall remained major owners of the stock.
• The company reported better-than-expected first-quarter earnings, with revenue of $1.60 billion and EPS of $1.12, and it recently raised its quarterly dividend to $0.79 per share.

Fifth Third Bancorp increased its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 1,175.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,951 shares of the company's stock after buying an additional 14,700 shares during the period. Fifth Third Bancorp's holdings in TKO Group were worth $3,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new position in shares of TKO Group in the 4th quarter worth $27,000. Torren Management LLC acquired a new stake in TKO Group in the 4th quarter valued at $32,000. CYBER HORNET ETFs LLC bought a new stake in TKO Group during the 2nd quarter valued at $34,000. Aventura Private Wealth LLC bought a new position in shares of TKO Group in the fourth quarter valued at $35,000. Finally, MUFG Securities EMEA plc bought a new position in shares of TKO Group in the second quarter valued at $36,000. 89.79% of the stock is owned by institutional investors.

Insider Transactions at TKO Group

In other news, insider Mark S. Shapiro acquired 10,807 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $185.05 per share, for a total transaction of $1,999,835.35. Following the purchase, the insider owned 129,207 shares of the company's stock, valued at approximately $23,909,755.35. The trade was a 9.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ariel Emanuel bought 10,805 shares of TKO Group stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $185.09 per share, with a total value of $1,999,897.45. Following the purchase, the chief executive officer directly owned 154,655 shares of the company's stock, valued at approximately $28,625,093.95. This represents a 7.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 24,308 shares of company stock worth $4,499,679 and sold 28,696 shares worth $5,511,785. 64.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TKO has been the topic of a number of analyst reports. Roth Capital set a $228.00 target price on shares of TKO Group in a report on Monday, May 4th. Citizens Jmp assumed coverage on TKO Group in a research note on Monday, March 30th. They issued a "mkt outperform" rating and a $240.00 price objective for the company. Sanford C. Bernstein dropped their target price on TKO Group from $250.00 to $240.00 and set an "outperform" rating on the stock in a report on Monday, April 27th. Guggenheim cut their target price on TKO Group from $232.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Zacks Research upgraded TKO Group from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $234.07.

TKO Group Stock Performance

Shares of TKO stock opened at $185.18 on Monday. The firm has a market cap of $35.95 billion, a price-to-earnings ratio of 69.10 and a beta of 0.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. TKO Group Holdings, Inc. has a 52 week low of $152.29 and a 52 week high of $226.94. The firm's 50-day simple moving average is $196.34 and its two-hundred day simple moving average is $199.28.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. TKO Group's revenue was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that TKO Group Holdings, Inc. will post 4.94 earnings per share for the current year.

TKO Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 15th. This is a positive change from TKO Group's previous quarterly dividend of $0.78. TKO Group's dividend payout ratio is currently 117.91%.

TKO Group Profile

TKO Group Holdings NYSE: TKO is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO's core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.

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