Sandler Capital Management Sells 31,027 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Sandler Capital Management has significantly reduced its position in TKO Group Holdings by 42.9%, now holding 41,364 shares worth approximately $6.32 million, making it the firm's 11th largest investment.
• Insider transactions reveal that Director Nick Khan sold 9,519 shares at an average price of $186.43, decreasing his ownership by 6.48%, with a total of 73,725 shares sold by insiders over the last ninety days.
• TKO Group recently declared a quarterly dividend of $0.76 per share, increasing from its previous dividend of $0.38, representing an annualized yield of 1.6% and a payout ratio of 125.62%.

Sandler Capital Management cut its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,364 shares of the company's stock after selling 31,027 shares during the quarter. TKO Group makes up about 1.6% of Sandler Capital Management's portfolio, making the stock its 11th largest position. Sandler Capital Management's holdings in TKO Group were worth $6,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in TKO Group by 19.4% during the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock worth $1,218,951,000 after acquiring an additional 1,295,817 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of TKO Group by 2.1% in the first quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock valued at $647,727,000 after buying an additional 87,165 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of TKO Group by 12.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company's stock valued at $299,961,000 after buying an additional 210,469 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of TKO Group by 242.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock valued at $228,675,000 after buying an additional 1,059,636 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of TKO Group by 569.7% in the first quarter. Invesco Ltd. now owns 1,423,052 shares of the company's stock valued at $217,457,000 after buying an additional 1,210,563 shares in the last quarter. 89.79% of the stock is owned by institutional investors.

TKO Group Stock Performance

NYSE TKO traded down $6.19 during trading hours on Tuesday, reaching $194.28. 134,999 shares of the company were exchanged, compared to its average volume of 1,237,112. TKO Group Holdings, Inc. has a 1 year low of $113.16 and a 1 year high of $200.71. The business's 50 day simple moving average is $177.14 and its 200-day simple moving average is $164.17. 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 has a market capitalization of $38.52 billion, a P/E ratio of 80.07 and a beta of 0.79.

TKO Group (NYSE:TKO - Get Free Report) last posted 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 return on equity of 2.82% and a net margin of 5.40%.The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business posted $0.72 EPS. The business's quarterly revenue was up 53.7% on a year-over-year basis. On average, equities research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 yield of 1.6%. This is a boost from TKO Group's previous quarterly dividend of $0.38. The ex-dividend date is Monday, September 15th. TKO Group's dividend payout ratio is 125.62%.

Analysts Set New Price Targets

A number of research firms have weighed in on TKO. Sanford C. Bernstein began coverage on shares of TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of TKO Group from $182.00 to $212.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Baird R W raised shares of TKO Group to a "strong-buy" rating in a research note on Friday. UBS Group raised their price target on shares of TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley reissued an "outperform" rating on shares of TKO Group in a research report on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.21.

Insider Transactions at TKO Group

In related news, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the completion of the sale, the director owned 137,456 shares in the company, valued at approximately $25,625,922.08. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 73,725 shares of company stock worth $12,767,807 in the last three months. Company 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.