Cynosure Group LLC Boosts Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Cynosure Group LLC increased its stake in TKO Group Holdings by 123.2% during the first quarter, now owning shares worth $713,000.
• TKO Group reported $1.17 earnings per share for the latest quarter, missing estimates by $0.06, while revenue was up 53.7% year-over-year.
• The company recently declared a quarterly dividend of $0.38, representing a 0.9% dividend yield and a payout ratio of 62.81%.

Cynosure Group LLC increased its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 123.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,664 shares of the company's stock after purchasing an additional 2,574 shares during the period. Cynosure Group LLC's holdings in TKO Group were worth $713,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Sentry Investment Management LLC acquired a new position in shares of TKO Group during the 1st quarter valued at $25,000. Hemington Wealth Management increased 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 valued at $25,000 after purchasing an additional 136 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of TKO Group during the 1st quarter valued at $26,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of TKO Group during the 1st quarter valued at $27,000. Finally, Farther Finance Advisors LLC increased 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 valued at $33,000 after purchasing an additional 122 shares during the period. Institutional investors own 89.79% of the company's stock.

TKO Group Stock Up 10.3%

NYSE:TKO traded up $16.79 during trading hours on Monday, hitting $180.08. 2,653,922 shares of the company traded hands, compared to its average volume of 924,184. TKO Group Holdings, Inc. has a one year low of $113.16 and a one year high of $182.60. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm's 50-day simple moving average is $170.16 and its 200-day simple moving average is $160.94. The company has a market cap of $35.64 billion, a PE ratio of 74.41 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly 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). The company had revenue of $1.31 billion during 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%. TKO Group's quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Equities analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a 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%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TKO. The Goldman Sachs Group lifted their target price on TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lifted their price objective on TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. UBS Group boosted their price target on TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday. Northcoast Research cut TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein began coverage on TKO Group in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target for the company. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TKO Group presently has a consensus rating of "Moderate Buy" and an average target price of $173.83.

Insider Buying and Selling at TKO Group

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

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.