TKO Group Holdings, Inc. $TKO Holdings Raised by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in TKO Group Holdings by 1,186.3% in Q1, acquiring an additional 18,233 shares for a total of 19,770 shares valued at approximately $3.02 million.
• Insider trading activity showed a major increase, with major shareholder Lake West Voteco L.L.C. buying 1,579,080 shares, raising their position in TKO Group by 61.22%.
• TKO Group recently announced a quarterly dividend of $0.38 per share, which equates to an annualized dividend yield of 0.8% and a payout ratio of 62.81%.

Kovitz Investment Group Partners LLC raised its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 1,186.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,770 shares of the company's stock after buying an additional 18,233 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in TKO Group were worth $3,021,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TKO. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TKO Group in the first quarter valued at approximately $1,163,000. Friedenthal Financial purchased a new position in TKO Group in the first quarter valued at about $895,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in TKO Group during the 1st quarter valued at approximately $464,000. Moore Capital Management LP increased its holdings in TKO Group by 1,625.0% during the 4th 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 last quarter. Finally, Ninety One SA PTY Ltd raised its position in shares of TKO Group by 3.4% in the 1st quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company's stock valued at $10,902,000 after purchasing an additional 2,330 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe purchased 980 shares of the business's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director owned 2,747 shares of the company's stock, valued at $465,863.73. The trade was a 55.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $167.36, for a total transaction of $1,593,099.84. Following the transaction, the director owned 146,975 shares of the company's stock, valued at approximately $24,597,736. This trade represents a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,725 shares of company stock valued at $12,501,561. Corporate insiders own 61.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TKO. JPMorgan Chase & Co. raised their price target on shares of TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a research report on Thursday. Sanford C. Bernstein began coverage on shares of TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price objective for the company. Roth Capital increased their target price on TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Susquehanna assumed coverage on TKO Group in a report on Monday, April 28th. They issued a "positive" rating and a $180.00 price target for the company. Finally, Northcoast Research lowered TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.69.

TKO Group Stock Performance

Shares of NYSE TKO traded up $1.0010 during midday trading on Friday, reaching $185.2410. 422,216 shares of the company traded hands, compared to its average volume of 1,273,926. The company has a market cap of $36.73 billion, a price-to-earnings ratio of 76.55 and a beta of 0.72. The stock has a 50-day moving average price of $173.63 and a 200 day moving average price of $162.55. TKO Group Holdings, Inc. has a 52 week low of $113.16 and a 52 week 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.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm's quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 13th. TKO Group's dividend payout ratio is 62.81%.

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.