Neo Ivy Capital Management Acquires 7,930 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Neo Ivy Capital Management significantly increased its position in TKO Group Holdings, Inc. by 364.1% during the first quarter, now holding shares worth approximately $1.55 million.
• Major analysts have raised their price targets for TKO Group, with Guggenheim increasing its target from $175.00 to $190.00 and JPMorgan boosting theirs from $158.00 to $182.00, indicating strong market confidence.
• TKO Group reported earnings of $0.69 per share for the last quarter, exceeding expectations and showing a revenue increase to $1.27 billion, up 3.8% year-over-year.

Neo Ivy Capital Management boosted its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 364.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,108 shares of the company's stock after purchasing an additional 7,930 shares during the period. Neo Ivy Capital Management's holdings in TKO Group were worth $1,545,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TKO. Assetmark Inc. increased its holdings in shares of TKO Group by 1.6% during the first quarter. Assetmark Inc. now owns 22,813 shares of the company's stock valued at $3,486,000 after acquiring an additional 366 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in TKO Group by 5.2% during the first quarter. Avantax Advisory Services Inc. now owns 3,977 shares of the company's stock worth $608,000 after buying an additional 197 shares in the last quarter. Argonautica Private Wealth Management Inc. grew its stake in TKO Group by 4.0% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 2,837 shares of the company's stock valued at $434,000 after purchasing an additional 108 shares during the period. Pinnacle Associates Ltd. bought a new position in TKO Group in the 1st quarter valued at $6,977,000. Finally, Roundview Capital LLC grew its stake in TKO Group by 1.5% in the 1st quarter. Roundview Capital LLC now owns 22,391 shares of the company's stock valued at $3,422,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 89.79% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Susquehanna began coverage on TKO Group in a research note on Monday, April 28th. They set a "positive" rating and a $180.00 price target for the company. Sanford C. Bernstein began coverage on TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price for the company. JPMorgan Chase & Co. raised their target price on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Guggenheim raised their target price on TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Northcoast Research downgraded TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TKO Group presently has an average rating of "Moderate Buy" and an average price target of $171.33.

Insider Activity at TKO Group

In other news, Director Nick Khan sold 45,168 shares of the business's stock in a transaction that occurred 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 directly owned 156,494 shares of the company's stock, valued at approximately $26,732,305.08. The trade was a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of TKO Group stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the purchase, the insider directly owned 4,158,517 shares of the company's stock, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 73,725 shares of company stock worth $12,501,561 in the last 90 days. Company insiders own 53.80% of the company's stock.

TKO Group Price Performance

Shares of NYSE:TKO traded down $3.74 on Tuesday, hitting $167.00. The company's stock had a trading volume of 150,827 shares, compared to its average volume of 1,295,653. The company has a 50-day simple moving average of $168.69 and a 200 day simple moving average of $159.45. TKO Group Holdings, Inc. has a 1 year low of $102.46 and a 1 year high of $182.60. The company has a market capitalization of $33.05 billion, a PE ratio of 84.76 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.07 billion. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.26) earnings per share. Sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.91%. TKO Group's dividend payout ratio is presently 77.16%.

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.