First Citizens Bank & Trust Co. Acquires 6,112 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• First Citizens Bank & Trust Co. has significantly increased its stake in TKO Group Holdings, Inc. by 387.1%, owning 7,691 shares worth approximately $1.4 million after acquiring 6,112 additional shares in the second quarter.
• Analysts are optimistic about TKO Group, with recommendations ranging from "Strong Buy" to "Buy," and a new consensus target price of $210.21, reflecting positive sentiment in the market.
• TKO Group recently raised its quarterly dividend from $0.38 to $0.76, reflecting confidence in its financial health and a commitment to shareholder returns.

First Citizens Bank & Trust Co. raised its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 387.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,691 shares of the company's stock after buying an additional 6,112 shares during the period. First Citizens Bank & Trust Co.'s holdings in TKO Group were worth $1,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TKO. Hemington Wealth Management raised its stake in TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company's stock valued at $25,000 after buying an additional 136 shares during the period. Whittier Trust Co. increased its stake in shares of TKO Group by 350.0% during the second quarter. Whittier Trust Co. now owns 135 shares of the company's stock worth $25,000 after purchasing an additional 105 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of TKO Group during the first quarter worth approximately $26,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of TKO Group during the first quarter worth approximately $27,000. Finally, Eastern Bank bought a new position in shares of TKO Group during the second quarter worth approximately $34,000. Institutional investors own 89.79% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TKO. Seaport Res Ptn upgraded TKO Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 15th. Bank of America increased their target price on TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Morgan Stanley increased their target price on TKO Group from $165.00 to $205.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 25th. Finally, Roth Capital increased their target price on TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, TKO Group presently has a consensus rating of "Moderate Buy" and an average target price of $210.21.

Insiders Place Their Bets

In other TKO Group news, Director Peter C. B. Bynoe bought 740 shares of TKO Group stock in a transaction on Tuesday, September 16th. The shares were purchased at an average price of $203.00 per share, with a total value of $150,220.00. Following the acquisition, the director owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $197.82, for a total value of $1,883,048.58. Following the completion of the sale, the director directly owned 128,023 shares in the company, valued at approximately $25,325,509.86. This represents a 6.92% decrease in their position. The disclosure for this sale can be found here. Company insiders own 61.30% of the company's stock.

TKO Group Price Performance

TKO Group stock opened at $186.95 on Friday. The stock's fifty day moving average price is $192.94 and its two-hundred day moving average price is $174.84. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $212.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $37.07 billion, a PE ratio of 77.25 and a beta of 0.76.

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

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.76 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from TKO Group's previous quarterly dividend of $0.38. TKO Group's dividend payout ratio (DPR) is 125.62%.

TKO Group announced that its Board of Directors has authorized a share buyback plan on Monday, September 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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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