TIG Advisors LLC Buys Shares of 2,500 TKO Group Holdings, Inc. $TKO

Key Points

• TIG Advisors LLC has acquired a new stake in TKO Group Holdings, purchasing 2,500 shares valued at approximately $382,000.
• Major shareholders such as Vanguard Group and Price T Rowe Associates have significantly increased their holdings in TKO Group, indicating strong institutional interest with 89.79% of shares held by institutions.
• TKO Group recently reported earnings of $1.17 per share for the last quarter, missing estimates, while showing a 53.7% revenue increase year-over-year.

TIG Advisors LLC purchased a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,500 shares of the company's stock, valued at approximately $382,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in TKO Group by 19.4% in the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock worth $1,218,951,000 after purchasing an additional 1,295,817 shares during the last quarter. Ninety One UK Ltd grew its holdings in TKO Group by 2.1% in the first quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock worth $647,727,000 after purchasing an additional 87,165 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 worth $299,961,000 after purchasing an additional 210,469 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in TKO Group by 57.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock worth $238,574,000 after purchasing an additional 611,178 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 worth $228,675,000 after purchasing an additional 1,059,636 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

TKO Group Price Performance

Shares of TKO stock traded up $3.64 on Thursday, reaching $190.25. 785,694 shares of the company were exchanged, compared to its average volume of 1,247,958. The company has a market cap of $37.73 billion, a price-to-earnings ratio of 78.62 and a beta of 0.79. The business has a 50-day moving average price of $176.21 and a 200 day moving average price of $163.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. TKO Group Holdings, Inc. has a 1 year low of $113.16 and a 1 year high of $194.76.

TKO Group (NYSE:TKO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.17 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 period in the prior year, the firm earned $0.72 EPS. The firm's revenue for the quarter was up 53.7% on a year-over-year basis. Equities research analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.04 annualized dividend and a yield of 1.6%. This is a boost from TKO Group's previous quarterly dividend of $0.38. TKO Group's dividend payout ratio is currently 62.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. 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 research note on Monday, May 12th. Morgan Stanley reiterated an "outperform" rating on shares of TKO Group in a research note on Sunday, August 10th. UBS Group lifted their price objective on shares of TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Zacks Research upgraded shares of TKO Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Finally, Bank of America boosted their target price on shares of TKO Group from $200.00 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, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $189.69.

Insider Transactions at TKO Group

In related news, Director Nick Khan sold 9,519 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $167.36, for a total transaction of $1,593,099.84. Following the completion of the sale, the director owned 146,975 shares of the company's stock, valued at approximately $24,597,736. This represents a 6.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 64,206 shares of company stock worth $10,993,180. 53.80% of the stock is currently owned by corporate insiders.

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.