State of New Jersey Common Pension Fund D Sells 1,774 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• The State of New Jersey Common Pension Fund D sold 1,774 shares of TKO Group Holdings, Inc., reducing its stake by 6.5%, leaving it with a total of 25,661 shares valued at approximately $3.92 million.
• Despite a quarterly earnings report that missed consensus estimates, TKO Group experienced a significant revenue increase of 53.7% year-over-year.
• Recent analyst ratings for TKO Group are mostly positive, with one analyst giving a Strong Buy rating and projected target prices ranging from $180.00 to $210.00.

State of New Jersey Common Pension Fund D trimmed its position in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,661 shares of the company's stock after selling 1,774 shares during the period. State of New Jersey Common Pension Fund D's holdings in TKO Group were worth $3,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sentry Investment Management LLC bought a new stake in shares of TKO Group during the 1st quarter worth about $25,000. Hemington Wealth Management raised its position in shares of TKO Group by 425.0% during the 1st quarter. Hemington Wealth Management now owns 168 shares of the company's stock worth $25,000 after buying an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of TKO Group during the 1st quarter worth about $26,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of TKO Group during the 1st quarter worth about $27,000. Finally, Farther Finance Advisors LLC raised its position in shares of TKO Group by 129.8% during the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after buying an additional 122 shares in the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

TKO Group Stock Up 0.8%

Shares of TKO traded up $1.4070 during mid-day trading on Friday, hitting $185.6470. 774,225 shares of the company's stock were exchanged, compared to its average volume of 1,036,918. The firm has a fifty day moving average of $174.08 and a two-hundred day moving average of $162.75. TKO Group Holdings, Inc. has a twelve month low of $113.16 and a twelve month high of $194.76. The stock has a market cap of $36.81 billion, a price-to-earnings 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.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate 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 return on equity of 2.82% and a net margin of 5.40%.The business's revenue for the quarter was up 53.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. UBS Group boosted their price target on shares of TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Citigroup boosted their target price on shares of TKO Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Finally, Susquehanna initiated coverage on shares of TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, TKO Group currently has an average rating of "Moderate Buy" and an average price target of $189.69.

Insider Buying and Selling

In other news, Director Peter C. B. Bynoe acquired 980 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director owned 2,747 shares in the company, valued at approximately $465,863.73. This represents a 55.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were purchased at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the acquisition, the insider owned 4,158,517 shares in the company, valued at $658,376,411.44. This trade represents a 61.22% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 73,725 shares of company stock valued at $12,501,561. Company insiders own 61.30% of the company's stock.

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.