Fred Alger Management LLC Takes Position in TKO Group Holdings, Inc. $TKO

Key Points

• Fred Alger Management LLC acquired 305,260 shares of TKO Group Holdings, Inc., worth approximately $46.6 million, increasing its ownership to 0.18% of the company.
• TKO Group announced a quarterly dividend of $0.76, up from the previous $0.38, reflecting a positive change and an annualized yield of 1.6%.
• Wall Street analysts are optimistic about TKO Group, with ratings ranging from Strong Buy to Hold, and a consensus price target of $192.21.

Fred Alger Management LLC bought a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 305,260 shares of the company's stock, valued at approximately $46,647,000. Fred Alger Management LLC owned 0.18% of TKO Group at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TKO Group during the first quarter worth approximately $1,163,000. Friedenthal Financial bought a new position in shares of TKO Group during the first quarter worth approximately $895,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of TKO Group during the first quarter worth approximately $464,000. Moore Capital Management LP increased its stake in shares of TKO Group by 1,625.0% during the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock worth $59,443,000 after purchasing an additional 394,038 shares during the period. Finally, Ninety One SA PTY Ltd increased its stake in shares of TKO Group by 3.4% during the first quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company's stock worth $10,902,000 after purchasing an additional 2,330 shares during the period. Institutional investors own 89.79% of the company's stock.

Insider Activity at TKO Group

In other news, Director Nick Khan sold 45,168 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 73,725 shares of company stock valued at $12,767,807. 61.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley reiterated an "outperform" rating on shares of TKO Group in a research note on Sunday, August 10th. Northcoast Research downgraded TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Robert W. Baird started coverage on TKO Group in a research report on Friday, September 5th. They set an "outperform" rating and a $225.00 price target on the stock. Roth Capital increased their price target on TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, Seaport Res Ptn downgraded TKO Group from a "strong-buy" rating to a "hold" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $192.21.

TKO Group Price Performance

Shares of TKO stock traded up $0.09 during trading hours on Friday, reaching $202.33. The company's stock had a trading volume of 531,924 shares, compared to its average volume of 1,231,461. The firm's 50 day simple moving average is $178.43 and its 200-day simple moving average is $164.90. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of 83.61 and a beta of 0.79. TKO Group Holdings, Inc. has a fifty-two week low of $114.01 and a fifty-two week high of $204.10. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). The business had revenue of $1.31 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.72 EPS. Sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, September 15th. This is a positive change from TKO Group's previous quarterly dividend of $0.38. TKO Group's dividend payout ratio is currently 125.62%.

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.