Price T Rowe Associates Inc. MD Raises Holdings in TKO Group Holdings, Inc. $TKO

Key Points

• Price T Rowe Associates Inc. MD increased its stake in TKO Group by 242.6% in the 1st quarter, now owning nearly 1.5 million shares valued at approximately $228.7 million.
• Invesco Ltd. raised its holdings in TKO Group by a staggering 569.7% during the same quarter, highlighting increased institutional interest in the company.
• Despite a revenue increase of 53.7% year-over-year, TKO Group reported an EPS of $1.17, missing analysts' expectations by $0.06.

Price T Rowe Associates Inc. MD boosted its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 242.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,496,462 shares of the company's stock after acquiring an additional 1,059,636 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.87% of TKO Group worth $228,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in TKO Group by 19.4% during the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock valued at $1,218,951,000 after acquiring an additional 1,295,817 shares during the period. Ninety One UK Ltd lifted its holdings in TKO Group by 2.1% in the 1st quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock worth $647,727,000 after buying an additional 87,165 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in TKO Group by 12.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company's stock worth $299,961,000 after buying an additional 210,469 shares during the period. Ameriprise Financial Inc. lifted its holdings in TKO Group by 57.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock worth $238,574,000 after buying an additional 611,178 shares during the period. Finally, Invesco Ltd. lifted its holdings in TKO Group by 569.7% in the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company's stock worth $217,457,000 after buying an additional 1,210,563 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TKO Group

In related news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of TKO Group stock in a transaction that occurred on 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 approximately $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nick Khan sold 45,168 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $170.82, for a total value 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. This trade represents a 22.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,725 shares of company stock valued at $12,501,561 in the last 90 days. Corporate insiders own 61.30% of the company's stock.

TKO Group Trading Up 0.8%

TKO opened at $185.6470 on Friday. The stock has a market cap of $36.81 billion, a PE ratio of 76.71 and a beta of 0.72. 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 business has a 50 day moving average of $174.08 and a 200-day moving average of $162.76. TKO Group Holdings, Inc. has a 52 week low of $113.16 and a 52 week high of $194.76.

TKO Group (NYSE:TKO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company's revenue for the quarter was up 53.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is 62.81%.

Analyst Ratings Changes

Several research firms have weighed in on TKO. Guggenheim increased their price objective on TKO Group from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. 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 for the company. JPMorgan Chase & Co. increased their price objective on TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a report on Thursday. Susquehanna started coverage on TKO Group in a report on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective for the company. Finally, Roth Capital increased their target price on TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $189.69.

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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