Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. significantly increased its holdings in TKO Group by 37,409.1%, acquiring an additional 65,840 shares, bringing its total to 66,016 shares valued at approximately $10.09 million.
• Insiders have been active, with Director Peter C. B. Bynoe increasing his stake by 55.46% after purchasing 980 shares, while Director Nick Khan sold 9,519 shares, resulting in a total insider sale value of $12.5 million in the past 90 days.
• TKO Group reported a 53.7% year-over-year revenue increase in its latest earnings, although it fell short of earnings estimates with an EPS of $1.17 against a consensus of $1.23.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 37,409.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,016 shares of the company's stock after buying an additional 65,840 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in TKO Group were worth $10,088,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Focus Partners Advisor Solutions LLC raised its position in TKO Group by 3.6% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 1,835 shares of the company's stock worth $261,000 after buying an additional 63 shares during the last quarter. Simon Quick Advisors LLC raised its position in TKO Group by 1.1% during the 1st quarter. Simon Quick Advisors LLC now owns 7,558 shares of the company's stock worth $1,155,000 after buying an additional 82 shares during the last quarter. Coldstream Capital Management Inc. raised its position in TKO Group by 2.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,160 shares of the company's stock worth $449,000 after buying an additional 90 shares during the last quarter. Utah Retirement Systems raised its position in TKO Group by 2.4% during the 4th quarter. Utah Retirement Systems now owns 4,300 shares of the company's stock worth $611,000 after buying an additional 100 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its position in TKO Group by 3.2% during the 1st quarter. Pekin Hardy Strauss Inc. now owns 3,210 shares of the company's stock worth $491,000 after buying an additional 100 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TKO Group news, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $169.59 per share, with a total value of $166,198.20. Following the purchase, the director directly owned 2,747 shares in the company, valued at $465,863.73. This trade represents a 55.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $167.36, for a total transaction of $1,593,099.84. Following the sale, the director directly owned 146,975 shares in the company, 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. Insiders have sold a total of 73,725 shares of company stock valued at $12,501,561 in the last 90 days. 53.80% of the stock is owned by insiders.

TKO Group Price Performance

TKO Group stock opened at $180.08 on Tuesday. The company's fifty day moving average price is $170.16 and its 200 day moving average price is $160.94. TKO Group Holdings, Inc. has a 1 year low of $113.16 and a 1 year high of $182.60. The stock has a market capitalization of $35.64 billion, a P/E ratio of 74.41 and a beta of 0.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $0.72 EPS. TKO Group's revenue was up 53.7% compared to the same quarter last year. As a group, equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. 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. Sanford C. Bernstein started coverage on shares of TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price for the company. Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "outperform" rating on shares of TKO Group in a report on Sunday. Finally, JPMorgan Chase & Co. lifted their target price on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $173.83.

TKO Group Company 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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