Lbp Am Sa Takes Position in TKO Group Holdings, Inc. $TKO

Key Points

• Lbp Am Sa has acquired a new position in TKO Group Holdings, Inc., purchasing 24,244 shares valued at approximately $4.4 million during the second quarter.
• A recent increase in analyst ratings includes Bank of America and Citigroup raising their price targets for TKO Group to $210.00 and $225.00, respectively, with overall recommendations shifting towards a "Moderate Buy" consensus.
• The company has increased its quarterly dividend from $0.38 to $0.76 per share, representing a 1.5% yield, and also authorized a stock buyback program of up to $1 billion.

Lbp Am Sa purchased a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,244 shares of the company's stock, valued at approximately $4,411,000.

Other hedge funds have also recently made changes to their positions in the company. Sentry Investment Management LLC bought a new stake in shares of TKO Group in the 1st quarter worth approximately $25,000. Hemington Wealth Management boosted its position in shares of TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company's stock worth $25,000 after purchasing an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of TKO Group in the 1st quarter worth approximately $26,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of TKO Group in the 1st quarter worth approximately $27,000. Finally, Farther Finance Advisors LLC boosted its position in shares of TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after purchasing an additional 122 shares in the last quarter. 89.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America boosted their price target on TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Citigroup increased their price target on shares of TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, August 15th. Morgan Stanley increased their price target on shares of TKO Group from $165.00 to $205.00 and gave the company an "equal weight" rating in a report on Thursday, September 25th. Seaport Res Ptn cut shares of TKO Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Northcoast Research cut shares of TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $199.71.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe purchased 740 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the purchase, the director directly owned 5,187 shares of the company's stock, valued at $1,052,961. The trade was a 16.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nick Khan sold 45,168 shares of TKO Group stock in a transaction on Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the transaction, the director owned 156,494 shares in the company, valued at $26,732,305.08. This represents a 22.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,206 shares of company stock worth $11,083,325 in the last quarter. Corporate insiders own 61.30% of the company's stock.

TKO Group Trading Down 1.6%

Shares of TKO stock opened at $198.65 on Thursday. TKO Group Holdings, Inc. has a 12-month low of $114.01 and a 12-month high of $212.49. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average is $186.68 and its 200 day moving average is $170.01. The stock has a market capitalization of $39.39 billion, a P/E ratio of 82.09 and a beta of 0.76.

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 the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The company's revenue for the quarter was up 53.7% compared to the same quarter last year. Research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.76 dividend. This is an increase from TKO Group's previous quarterly dividend of $0.38. This represents a $3.04 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, September 15th. TKO Group's dividend payout ratio is 125.62%.

TKO Group declared that its Board of Directors has authorized a stock buyback program on Monday, September 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

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.

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