Lord Abbett & CO. LLC Acquires New Stake in TKO Group Holdings, Inc. $TKO

Key Points

• Lord Abbett & CO. LLC purchased 33,254 shares of TKO Group Holdings, Inc., valued at approximately $5.08 million, as reported in their recent SEC filing.
• JPMorgan Chase & Co. and UBS Group recently increased their price targets for TKO Group stock, with price objectives of $182.00 and $200.00 respectively, indicating strong investment interest.
• Insider trading activities included Director Nick Khan selling 9,519 shares worth about $1.59 million, while major shareholder Lake West Voteco L.L.C. acquired 1,579,080 shares for approximately $250 million.

Lord Abbett & CO. LLC acquired a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,254 shares of the company's stock, valued at approximately $5,082,000.

Several other institutional investors have also recently modified their holdings of TKO. Sentry Investment Management LLC purchased a new position in shares of TKO Group in the first quarter worth about $25,000. Hemington Wealth Management raised its position in TKO Group by 425.0% during the first quarter. Hemington Wealth Management now owns 168 shares of the company's stock valued at $25,000 after acquiring an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in TKO Group during the first quarter valued at approximately $26,000. Bartlett & CO. Wealth Management LLC purchased a new position in TKO Group during the first quarter valued at approximately $27,000. Finally, Farther Finance Advisors LLC raised its position in TKO Group by 129.8% during the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after acquiring an additional 122 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

TKO Group Trading Down 1.2%

TKO Group stock traded down $2.3020 during trading on Wednesday, reaching $182.5980. 753,909 shares of the company were exchanged, compared to its average volume of 1,284,751. TKO Group Holdings, Inc. has a 52-week low of $113.16 and a 52-week high of $194.76. The company has a market capitalization of $36.21 billion, a P/E ratio of 75.45 and a beta of 0.72. 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 simple moving average is $172.87 and its two-hundred day simple moving average is $162.23.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 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 company 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 business posted $0.72 EPS. The business's quarterly revenue was up 53.7% compared to the same quarter last year. On average, equities research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Dividend Announcement

The firm 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. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. TKO Group's payout ratio is currently 62.81%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TKO. Guggenheim lifted their price target on TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. The Goldman Sachs Group lifted their price target on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Northcoast Research cut TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Sanford C. Bernstein began coverage on TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price objective on the stock. Finally, Bank of America raised their price objective on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $187.38.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe bought 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 completion of the transaction, the director directly owned 2,747 shares of the company's stock, valued at $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $167.36, for a total value of $1,593,099.84. Following the completion of the sale, the director owned 146,975 shares in the company, valued at $24,597,736. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,725 shares of company stock worth $12,501,561 over the last quarter. 53.80% of the stock is currently owned by company insiders.

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.