Norinchukin Bank The Makes New $386,000 Investment in TKO Group Holdings, Inc. $TKO

Key Points

• Norinchukin Bank acquired a new stake in TKO Group Holdings, purchasing 2,529 shares valued at approximately $386,000 in the first quarter.
• Multiple institutional investors have increased their positions in TKO Group, with ownership now reaching 89.79% by such entities.
• Despite a recent earnings miss of $1.17 per share against an expected $1.23, TKO Group reported a significant revenue increase of 53.7% year-over-year, totaling $1.31 billion.

Norinchukin Bank The acquired a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,529 shares of the company's stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TKO. Sentry Investment Management LLC bought a new position in TKO Group in the first quarter valued at about $25,000. Hemington Wealth Management increased its stake in shares of TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company's stock valued at $25,000 after buying an additional 136 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of TKO Group in the first quarter valued at approximately $26,000. Bartlett & CO. Wealth Management LLC bought a new position in TKO Group in the 1st quarter valued at approximately $27,000. Finally, Farther Finance Advisors LLC raised its holdings in TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after buying an additional 122 shares during the last quarter. Institutional investors own 89.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Bank of America increased 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. Morgan Stanley reaffirmed an "outperform" rating on shares of TKO Group in a research report on Sunday, August 10th. Finally, Citigroup upped their price target on TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $189.69.

TKO Group Trading Up 2.4%

TKO traded up $4.49 during trading on Thursday, reaching $190.14. 801,631 shares of the stock traded hands, compared to its average volume of 1,061,226. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. The stock's 50-day moving average is $175.23 and its 200 day moving average is $163.32. TKO Group Holdings, Inc. has a 12 month low of $113.16 and a 12 month high of $194.76. The stock has a market capitalization of $37.70 billion, a PE ratio of 78.57 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings data 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 business 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 firm earned $0.72 earnings per share. The firm's revenue for the quarter was up 53.7% compared to the same quarter last year. Equities analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Announces Dividend

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

Insiders Place Their Bets

In related news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of TKO Group stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average price of $158.32 per share, with a total value of $249,999,945.60. Following the transaction, the insider directly owned 4,158,517 shares in the company, valued at $658,376,411.44. This represents a 61.22% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. B. Bynoe bought 980 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the purchase, the director owned 2,747 shares of the company's stock, valued at $465,863.73. This represents a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 73,725 shares of company stock worth $12,501,561. Corporate insiders own 61.30% of the company's stock.

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.