Strs Ohio Takes $5.13 Million Position in TKO Group Holdings, Inc. $TKO

Key Points

• Strs Ohio has acquired a new stake in TKO Group Holdings, purchasing 33,557 shares valued at approximately $5.13 million during the first quarter.
• Institutional investment in TKO Group is significant, with over 89.79% of the stock owned by institutional investors and hedge funds, including substantial positions acquired by Vanguard and Invesco.
• Recent analyst ratings are optimistic, with fourteen analysts rating TKO Group a "Buy" and an average price target increase to $192.21, bolstered by a strong quarterly revenue growth of 53.7% year-over-year.

Strs Ohio bought a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 33,557 shares of the company's stock, valued at approximately $5,128,000.

Several other institutional investors have also made changes to their positions in TKO. Vanguard Group Inc. boosted its position in shares of TKO Group by 19.4% during the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock valued at $1,218,951,000 after acquiring an additional 1,295,817 shares in the last quarter. Invesco Ltd. boosted its position in 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. Price T Rowe Associates Inc. MD boosted its position in 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. Sequoia Financial Advisors LLC acquired a new position in TKO Group in the first quarter valued at about $71,834,000. Finally, Fred Alger Management LLC acquired a new position in TKO Group in the first quarter valued at about $46,647,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TKO has been the topic of a number of recent analyst reports. UBS Group boosted 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. Guggenheim boosted their price target on shares of TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Citigroup boosted their price target on shares of TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Seaport Res Ptn lowered shares of TKO Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Roth Capital boosted their price target on shares of TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, TKO Group has an average rating of "Moderate Buy" and an average price target of $192.21.

Insider Buying and Selling

In other TKO Group news, Director Nick Khan sold 9,519 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total value of $1,774,627.17. Following the completion of the sale, the director owned 137,456 shares of the company's stock, valued at approximately $25,625,922.08. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 73,725 shares of company stock valued at $12,767,807 over the last ninety days. 61.30% of the stock is currently owned by corporate insiders.

TKO Group Trading Up 0.0%

TKO opened at $202.33 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $40.12 billion, a price-to-earnings ratio of 83.61 and a beta of 0.79. The firm has a 50 day simple moving average of $178.94 and a 200 day simple moving average of $165.35. TKO Group Holdings, Inc. has a fifty-two week low of $114.01 and a fifty-two week high of $204.10.

TKO Group (NYSE:TKO - Get Free Report) last posted 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 the consensus estimate of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The company's quarterly revenue was up 53.7% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. On average, sell-side analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from TKO Group's previous quarterly dividend of $0.38. This represents a $3.04 annualized dividend and a yield of 1.5%. TKO Group's payout ratio is currently 125.62%.

TKO Group Company 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.

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