Ninety One UK Ltd Raises Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Ninety One UK Ltd increased its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,238,773 shares of the company's stock after buying an additional 87,165 shares during the period. TKO Group accounts for approximately 1.8% of Ninety One UK Ltd's investment portfolio, making the stock its 13th biggest position. Ninety One UK Ltd owned approximately 2.48% of TKO Group worth $647,727,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TKO. Pekin Hardy Strauss Inc. boosted its position in TKO Group by 3.2% during the first quarter. Pekin Hardy Strauss Inc. now owns 3,210 shares of the company's stock worth $491,000 after purchasing an additional 100 shares during the period. Envestnet Asset Management Inc. boosted its position in TKO Group by 3.7% during the first quarter. Envestnet Asset Management Inc. now owns 126,270 shares of the company's stock worth $19,295,000 after purchasing an additional 4,540 shares during the period. Braun Stacey Associates Inc. boosted its position in TKO Group by 2.3% during the first quarter. Braun Stacey Associates Inc. now owns 42,255 shares of the company's stock worth $6,457,000 after purchasing an additional 969 shares during the period. Barlow Wealth Partners Inc. boosted its position in TKO Group by 1.1% during the first quarter. Barlow Wealth Partners Inc. now owns 126,133 shares of the company's stock worth $19,815,000 after purchasing an additional 1,431 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in TKO Group by 68.7% during the first quarter. First Horizon Advisors Inc. now owns 469 shares of the company's stock worth $72,000 after purchasing an additional 191 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Stock Down 0.7%

TKO stock traded down $1.20 during midday trading on Wednesday, reaching $171.77. 709,600 shares of the company's stock traded hands, compared to its average volume of 1,124,579. The company has a market cap of $34.00 billion, a price-to-earnings ratio of 87.19 and a beta of 0.73. The firm's fifty day moving average price is $167.12 and its 200-day moving average price is $156.68. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. TKO Group Holdings, Inc. has a 52 week low of $102.46 and a 52 week high of $182.60.

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

TKO Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, June 13th. TKO Group's dividend payout ratio is 77.16%.

Wall Street Analyst Weigh In

TKO has been the subject of a number of recent research reports. Susquehanna initiated coverage on shares of TKO Group in a research report on Monday, April 28th. They issued a "positive" rating and a $180.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group boosted their target price on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Sanford C. Bernstein initiated coverage on shares of TKO Group in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price for the company. Finally, Guggenheim boosted their target price on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.08.

Insiders Place Their Bets

In other TKO Group news, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.46, for a total transaction of $1,508,380.74. Following the transaction, the director directly owned 210,967 shares of the company's stock, valued at $33,429,830.82. The trade was a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. B. Bynoe acquired 980 shares of the business's stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the acquisition, the director directly owned 2,747 shares in the company, valued at approximately $465,863.73. The trade was a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 61.30% of the company's stock.

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.