Hartford Investment Management Co. Buys Shares of 4,078 TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Hartford Investment Management Co. purchased 4,078 shares of TKO Group Holdings, Inc., valued at approximately $623,000, during the first quarter, signaling institutional interest in the company.
• TKO Group reported strong financial performance, with earnings per share of $0.69 for the recent quarter, exceeding analysts' expectations and generating revenue of $1.27 billion.
• The company declared a quarterly dividend of $0.38 per share, resulting in an annualized yield of 0.9%, while insiders have actively bought and sold shares, indicating varied confidence levels in the stock.

Hartford Investment Management Co. acquired a new stake 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 acquired 4,078 shares of the company's stock, valued at approximately $623,000.

A number of other hedge funds also recently made changes to their positions in TKO. LPL Financial LLC raised its stake in shares of TKO Group by 10.0% during the fourth quarter. LPL Financial LLC now owns 37,518 shares of the company's stock valued at $5,332,000 after purchasing an additional 3,426 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of TKO Group by 5.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,604 shares of the company's stock valued at $1,365,000 after purchasing an additional 481 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in shares of TKO Group during the fourth quarter valued at approximately $483,000. O Shaughnessy Asset Management LLC grew its position in shares of TKO Group by 11.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,011 shares of the company's stock worth $428,000 after buying an additional 307 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of TKO Group by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 22,948 shares of the company's stock worth $3,261,000 after buying an additional 1,207 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

TKO Group Stock Performance

Shares of NYSE TKO traded down $2.25 during midday trading on Tuesday, reaching $163.51. 765,467 shares of the company traded hands, compared to its average volume of 749,325. TKO Group Holdings, Inc. has a 52 week low of $107.67 and a 52 week high of $182.60. The stock has a 50-day moving average price of $169.61 and a 200 day moving average price of $160.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $32.36 billion, a price-to-earnings ratio of 83.00 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the business earned ($1.26) earnings per share. TKO Group's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate 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 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 0.9%. The ex-dividend date was Friday, June 13th. TKO Group's payout ratio is presently 77.16%.

Insiders Place Their Bets

In related news, Director Peter C. B. Bynoe acquired 980 shares of the business's stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the acquisition, the director owned 2,747 shares in the company, valued at approximately $465,863.73. This represents a 55.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the acquisition, the insider owned 4,158,517 shares in the company, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 73,725 shares of company stock worth $12,501,561. Company insiders own 53.80% of the company's stock.

Analyst Upgrades and Downgrades

TKO has been the subject of a number of recent analyst reports. Susquehanna initiated coverage on shares of TKO Group in a research report on Monday, April 28th. They set a "positive" rating and a $180.00 price target for the company. Sanford C. Bernstein initiated coverage on shares of TKO Group in a research report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price target for the company. Guggenheim raised their price target on shares of TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their price target on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group lifted their price objective 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. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TKO Group has a consensus rating of "Moderate Buy" and a consensus price target of $171.33.

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.