Envestnet Asset Management Inc. grew its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,270 shares of the company's stock after purchasing an additional 4,540 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of TKO Group worth $19,295,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Braun Stacey Associates Inc. grew its stake in TKO Group by 2.3% in the 1st quarter. Braun Stacey Associates Inc. now owns 42,255 shares of the company's stock valued at $6,457,000 after acquiring an additional 969 shares during the period. Barlow Wealth Partners Inc. boosted its holdings in TKO Group by 1.1% in the 1st quarter. Barlow Wealth Partners Inc. now owns 126,133 shares of the company's stock worth $19,815,000 after buying an additional 1,431 shares during the last quarter. First Horizon Advisors Inc. increased its stake in TKO Group by 68.7% during the 1st quarter. First Horizon Advisors Inc. now owns 469 shares of the company's stock worth $72,000 after buying an additional 191 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of TKO Group by 15.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,491 shares of the company's stock valued at $1,603,000 after acquiring an additional 1,415 shares in the last quarter. Finally, KBC Group NV increased its position in shares of TKO Group by 5.9% during the first quarter. KBC Group NV now owns 3,085 shares of the company's stock worth $471,000 after purchasing an additional 173 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on TKO shares. Guggenheim increased their target price on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 9th. The Goldman Sachs Group upped their price target on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Susquehanna initiated coverage on TKO Group in a research report on Monday, April 28th. They set a "positive" rating and a $180.00 price objective on the stock. Northcoast Research lowered TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TKO Group presently has an average rating of "Moderate Buy" and an average target price of $168.08.
Get Our Latest Analysis on TKO Group
Insider Buying and Selling
In other news, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.46, for a total value of $1,508,380.74. Following the sale, the director directly owned 210,967 shares in the company, valued at approximately $33,429,830.82. This trade represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 dated 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 transaction, the insider owned 4,158,517 shares in the company, valued at approximately $658,376,411.44. The trade was a 61.22% increase in their position. The disclosure for this purchase can be found here. 61.30% of the stock is currently owned by insiders.
TKO Group Trading Up 0.8%
NYSE:TKO traded up $1.30 during trading hours on Friday, reaching $170.65. 950,991 shares of the stock were exchanged, compared to its average volume of 1,125,584. 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 company has a market capitalization of $33.77 billion, a price-to-earnings ratio of 86.62 and a beta of 0.73. TKO Group Holdings, Inc. has a twelve month low of $102.46 and a twelve month high of $182.60. The business has a 50-day moving average of $167.73 and a two-hundred day moving average of $157.90.
TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.07 billion. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.26) earnings per share. On average, equities analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.
TKO Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's payout ratio is currently 77.16%.
TKO Group Profile
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Free Report)
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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