TD Asset Management Inc Trims Stake in TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• TD Asset Management Inc reduced its stake in TKO Group Holdings, Inc. by 35.9%, with the firm holding 641,366 shares after selling 359,791 shares during the 1st quarter.
• Several institutional investors made moves in TKO Group, including Sentry Investment Management LLC and Bartlett & CO. Wealth Management LLC, while 89.79% of the stock is currently owned by hedge funds and other institutional investors.
• TKO Group's share price has fluctuated between a 52-week low of $102.46 and a high of $182.60, with recent analyst ratings showing a consensus of "Moderate Buy" and a target price of $171.33.

TD Asset Management Inc reduced its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 35.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 641,366 shares of the company's stock after selling 359,791 shares during the quarter. TD Asset Management Inc owned about 0.37% of TKO Group worth $98,007,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TKO Group in the 1st quarter valued at approximately $1,163,000. Friedenthal Financial bought a new stake in TKO Group in the 1st quarter valued at approximately $895,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in TKO Group in the 1st quarter valued at approximately $464,000. Resona Asset Management Co. Ltd. bought a new stake in TKO Group in the 4th quarter valued at approximately $431,000. Finally, Moore Capital Management LP lifted its stake in TKO Group by 1,625.0% in the 4th quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock valued at $59,443,000 after acquiring an additional 394,038 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Trading Up 0.5%

TKO Group stock traded up $0.86 during trading hours on Monday, hitting $170.91. The stock had a trading volume of 534,845 shares, compared to its average volume of 1,303,902. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. The stock has a market cap of $33.82 billion, a price-to-earnings ratio of 86.76 and a beta of 0.73. TKO Group Holdings, Inc. has a one year low of $102.46 and a one year high of $182.60. The business's 50 day simple moving average is $168.55 and its 200-day simple moving average is $159.24.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.14. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned ($1.26) earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict 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 paid a $0.38 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.89%. TKO Group's dividend payout ratio (DPR) is presently 77.16%.

Insider Buying and Selling at TKO Group

In related news, Director Peter C. B. Bynoe bought 980 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the acquisition, the director directly owned 2,747 shares of the company's stock, valued at $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $167.36, for a total value of $1,593,099.84. Following the completion of the transaction, the director owned 146,975 shares in the company, valued at $24,597,736. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,725 shares of company stock valued at $12,501,561. Company insiders own 53.80% of the company's stock.

Analyst Ratings Changes

TKO has been the topic of a number of analyst reports. Susquehanna began coverage on TKO Group in a research note on Monday, April 28th. They set a "positive" rating and a $180.00 price objective on the stock. Guggenheim increased their target price on TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Sanford C. Bernstein assumed coverage on TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target for the company. Northcoast Research downgraded shares of TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group boosted their target price on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $171.33.

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.