Hsbc Holdings PLC Boosts Stock Position in TKO Group Holdings, Inc. $TKO

Key Points

• Hsbc Holdings PLC increased its stake in TKO Group Holdings, Inc. by 267.6%, now holding 65,087 shares valued at approximately $9.95 million.
• TKO Group reported earnings per share of $1.17 for the last quarter, falling short of expectations, although the firm's revenue rose 53.7% year-over-year.
• The company announced a quarterly dividend of $0.38, representing an annualized rate of $1.52 with a yield of 0.8%.

Hsbc Holdings PLC raised its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 267.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,087 shares of the company's stock after purchasing an additional 47,382 shares during the period. Hsbc Holdings PLC's holdings in TKO Group were worth $9,945,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of TKO Group by 182.6% during the first quarter. Wellington Management Group LLP now owns 64,846 shares of the company's stock worth $9,909,000 after buying an additional 41,898 shares in the last quarter. Raymond James Financial Inc. boosted its position in TKO Group by 11.3% during the first quarter. Raymond James Financial Inc. now owns 265,694 shares of the company's stock worth $40,601,000 after acquiring an additional 26,989 shares during the last quarter. Cresset Asset Management LLC grew its stake in TKO Group by 14.9% in the 1st quarter. Cresset Asset Management LLC now owns 2,534 shares of the company's stock worth $387,000 after acquiring an additional 329 shares during the period. Ethic Inc. raised its holdings in TKO Group by 11.1% in the 1st quarter. Ethic Inc. now owns 8,470 shares of the company's stock valued at $1,296,000 after acquiring an additional 846 shares during the last quarter. Finally, Aberdeen Group plc purchased a new position in shares of TKO Group during the 1st quarter worth $703,000. 89.79% of the stock is owned by institutional investors and hedge funds.

TKO Group Stock Performance

TKO Group stock opened at $185.6470 on Monday. The company has a market cap of $36.81 billion, a price-to-earnings ratio of 76.71 and a beta of 0.72. TKO Group Holdings, Inc. has a 12 month low of $113.16 and a 12 month high of $194.76. 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 stock's 50-day moving average is $174.08 and its 200-day moving average is $162.77.

TKO Group (NYSE:TKO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (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 firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm's revenue for the quarter was up 53.7% compared to the same quarter last year. Equities analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is currently 62.81%.

Insider Activity

In related news, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average cost 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. B. Bynoe acquired 980 shares of TKO Group stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the purchase, the director owned 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 disclosure for this purchase can be found here. In the last 90 days, insiders have sold 73,725 shares of company stock valued at $12,501,561. Company insiders own 53.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TKO. Northcoast Research downgraded TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a research note on Thursday. Guggenheim upped their price objective on shares of TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Bank of America increased their price objective on shares of TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, Sanford C. Bernstein started coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.69.

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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