Rafferty Asset Management LLC Acquires 3,062 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Rafferty Asset Management LLC increased its holdings in TKO Group by 201.4% in the first quarter, bringing its total shares owned to 4,582 worth approximately $700,000.
• Multiple institutions, including Hemington Wealth Management and N.E.W. Advisory Services, have significantly increased their stakes in TKO Group, which now sees 89.79% of its stock held by institutional investors.
• Analyst ratings for TKO stock show a consensus rating of "Moderate Buy" with an average price target of $189.69, reflecting a positive outlook despite a recent quarterly earnings miss.

Rafferty Asset Management LLC boosted its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 201.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,582 shares of the company's stock after buying an additional 3,062 shares during the period. Rafferty Asset Management LLC's holdings in TKO Group were worth $700,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in TKO Group by 18.0% during the fourth quarter. Northern Trust Corp now owns 681,858 shares of the company's stock worth $96,899,000 after purchasing an additional 103,845 shares during the period. Freestone Grove Partners LP acquired a new position in shares of TKO Group in the fourth quarter valued at approximately $255,000. Ameriprise Financial Inc. increased its stake in shares of TKO Group by 57.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock valued at $238,574,000 after buying an additional 611,178 shares during the period. BNP Paribas Financial Markets bought a new stake in TKO Group in the fourth quarter valued at approximately $10,579,000. Finally, BNP Paribas bought a new stake in TKO Group in the fourth quarter valued at approximately $91,000. Institutional investors own 89.79% of the company's stock.

TKO Group Trading Up 0.6%

Shares of TKO traded up $1.19 during midday trading on Wednesday, hitting $186.54. 685,562 shares of the stock were exchanged, compared to its average volume of 1,030,670. The firm has a market cap of $36.99 billion, a P/E ratio of 77.08 and a beta of 0.79. The stock has a fifty day simple moving average of $176.21 and a 200 day simple moving average of $163.65. TKO Group Holdings, Inc. has a 52-week low of $113.16 and a 52-week high of $194.76. 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 posted 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 for the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm's revenue for the quarter was up 53.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. On average, research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from TKO Group's previous quarterly dividend of $0.38. TKO Group's dividend payout ratio is presently 62.81%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TKO. Northcoast Research lowered TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Sanford C. Bernstein initiated coverage on TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target on the stock. UBS Group increased their target price on TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Roth Capital raised their price target on TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Citigroup lifted their target price 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 issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $189.69.

Insiders Place Their Bets

In other TKO Group news, Director Peter C. B. Bynoe purchased 980 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $169.59 per share, with a total value of $166,198.20. Following the transaction, the director owned 2,747 shares in the company, valued at approximately $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nick Khan sold 9,519 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $167.36, for a total transaction of $1,593,099.84. Following the completion of the sale, the director 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. Over the last ninety days, insiders have sold 64,206 shares of company stock valued at $10,993,180. 53.80% of the stock is owned by corporate insiders.

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.