Raymond James Financial Inc. Has $40.60 Million Holdings in TKO Group Holdings, Inc. $TKO

Key Points

• Raymond James Financial Inc. increased its stake in TKO Group Holdings, Inc. by 11.3%, owning approximately 265,694 shares valued at $40.60 million.
• Recent analyst reports have resulted in increased price targets for TKO Group, with several firms, including Goldman Sachs and Bank of America, rating the stock as a "buy" with target prices ranging from $188 to $210.
• TKO Group's quarterly earnings were released showing a net margin of 5.40% and a revenue increase of 53.7% year-over-year, although they missed earnings expectations by $0.06.

Raymond James Financial Inc. lifted its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,694 shares of the company's stock after purchasing an additional 26,989 shares during the quarter. Raymond James Financial Inc. owned approximately 0.16% of TKO Group worth $40,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Cresset Asset Management LLC raised its holdings in shares of TKO Group by 14.9% in the 1st quarter. Cresset Asset Management LLC now owns 2,534 shares of the company's stock worth $387,000 after buying an additional 329 shares in the last quarter. Ethic Inc. raised its holdings in shares of TKO Group by 11.1% in the 1st quarter. Ethic Inc. now owns 8,470 shares of the company's stock worth $1,296,000 after buying an additional 846 shares in the last quarter. Aberdeen Group plc acquired a new position in shares of TKO Group in the 1st quarter worth approximately $703,000. Horizon Investments LLC raised its holdings in shares of TKO Group by 99.0% in the 1st quarter. Horizon Investments LLC now owns 1,879 shares of the company's stock worth $287,000 after buying an additional 935 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of TKO Group by 1,186.3% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 19,770 shares of the company's stock worth $3,021,000 after buying an additional 18,233 shares in the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TKO has been the subject of a number of recent research reports. Roth Capital increased their target price on TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Guggenheim increased their target price on TKO Group from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. The Goldman Sachs Group increased their target price on TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Bank of America raised their price target on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Morgan Stanley reaffirmed an "outperform" rating on shares of TKO Group in a report on Sunday, August 10th. One investment 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 stock. According to MarketBeat.com, TKO Group has an average rating of "Moderate Buy" and an average price target of $189.69.

TKO Group Trading Up 0.8%

TKO stock opened at $185.6470 on Friday. The business has a fifty day moving average price of $174.08 and a 200 day moving average price of $162.75. TKO Group Holdings, Inc. has a fifty-two week low of $113.16 and a fifty-two week high of $194.76. The stock has a market capitalization of $36.81 billion, a price-to-earnings ratio of 76.71 and a beta of 0.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. Analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS 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 given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Nick Khan sold 45,168 shares of the stock in a transaction on Monday, July 21st. The stock was 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 in the company, valued at approximately $26,732,305.08. This trade represents a 22.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. B. Bynoe acquired 980 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 73,725 shares of company stock worth $12,501,561. 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.

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