Somerset Trust Co Makes New Investment in TKO Group Holdings, Inc. (NYSE:TKO)

Somerset Trust Co bought a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,848 shares of the company's stock, valued at approximately $282,000.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of TKO Group by 202.1% during the 4th quarter. SG Americas Securities LLC now owns 3,668 shares of the company's stock valued at $521,000 after purchasing an additional 2,454 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in TKO Group by 4.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,708 shares of the company's stock valued at $1,380,000 after buying an additional 398 shares during the period. Geneos Wealth Management Inc. purchased a new position in TKO Group during the fourth quarter worth about $32,000. Blue Trust Inc. increased its stake in TKO Group by 28.2% in the 4th quarter. Blue Trust Inc. now owns 332 shares of the company's stock worth $47,000 after acquiring an additional 73 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of TKO Group by 56.7% in the 4th quarter. KBC Group NV now owns 2,912 shares of the company's stock valued at $414,000 after acquiring an additional 1,054 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

TKO Group Trading Up 2.3%

TKO traded up $3.73 on Tuesday, hitting $163.28. 900,243 shares of the company were exchanged, compared to its average volume of 1,111,965. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a fifty day simple moving average of $155.48 and a two-hundred day simple moving average of $150.87. The stock has a market capitalization of $32.31 billion, a PE ratio of -388.76 and a beta of 0.73. TKO Group Holdings, Inc. has a 12 month low of $100.76 and a 12 month high of $179.09.

TKO Group (NYSE:TKO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. TKO Group had a negative net margin of 1.26% and a positive return on equity of 3.39%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned ($1.26) earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.93%. TKO Group's dividend payout ratio is currently 77.16%.

Analysts Set New Price Targets

Several research analysts have recently commented on TKO shares. Susquehanna began coverage on TKO Group in a report on Monday, April 28th. They set a "positive" rating and a $180.00 price objective for the company. Morgan Stanley increased their price target on shares of TKO Group from $128.00 to $160.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. The Goldman Sachs Group lifted their price objective 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. Pivotal Research reissued a "buy" rating and issued a $195.00 target price (up previously from $145.00) on shares of TKO Group in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price target on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, TKO Group has a consensus rating of "Moderate Buy" and an average price target of $166.25.

Insider Buying and Selling

In other TKO Group news, Director Jonathan Kraft bought 3,500 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $140.69 per share, for a total transaction of $492,415.00. Following the completion of the acquisition, the director now directly owns 23,500 shares in the company, valued at $3,306,215. The trade was a 17.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sonya E. Medina purchased 233 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $142.93 per share, with a total value of $33,302.69. Following the purchase, the director now directly owns 2,000 shares of the company's stock, valued at $285,860. This trade represents a 13.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. 61.30% of the stock is owned by insiders.

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.