Friedenthal Financial Makes New Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Friedenthal Financial bought a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,859 shares of the company's stock, valued at approximately $895,000.

Several other large investors have also bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in TKO Group by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 7,801 shares of the company's stock worth $1,192,000 after buying an additional 210 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of TKO Group in the first quarter worth approximately $230,000. Janney Montgomery Scott LLC grew its stake in shares of TKO Group by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 11,637 shares of the company's stock worth $1,778,000 after acquiring an additional 1,929 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of TKO Group by 5.6% in the first quarter. Exchange Traded Concepts LLC now owns 6,842 shares of the company's stock worth $1,046,000 after acquiring an additional 364 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of TKO Group in the first quarter worth approximately $257,000. 89.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Benchmark reiterated a "hold" rating on shares of TKO Group in a research note on Monday, March 3rd. Sanford C. Bernstein assumed coverage on shares of TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target for the company. Pivotal Research reiterated a "buy" rating and issued a $195.00 price target (up from $145.00) on shares of TKO Group in a research note on Thursday, February 27th. Seaport Res Ptn upgraded shares of TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $168.08.

TKO Group Stock Performance

TKO opened at $175.84 on Thursday. The firm has a market cap of $34.80 billion, a P/E ratio of 89.26 and a beta of 0.70. TKO Group Holdings, Inc. has a 1-year low of $102.46 and a 1-year high of $179.09. The company has a 50 day simple moving average of $159.96 and a two-hundred day simple moving average of $153.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.14. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted ($1.26) earnings per share. The company's revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, June 13th. TKO Group's dividend payout ratio (DPR) is presently 77.16%.

Insider Transactions at TKO Group

In related news, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, with a total value of $166,198.20. Following the completion of the acquisition, the director now owns 2,747 shares of the company's stock, valued at $465,863.73. This represents a 55.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the acquisition, the insider now directly owns 4,158,517 shares of the company's stock, valued at approximately $658,376,411.44. This represents a 61.22% increase in their position. The disclosure for this purchase can be found here. Insiders own 61.30% of the company's stock.

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.

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