Choreo LLC Sells 3,433 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Choreo LLC reduced its stake in TKO Group Holdings by 42.8% during the first quarter, now holding 4,581 shares valued at approximately $700,000.
• Analysts have given TKO Group a consensus rating of "Moderate Buy" with an average target price of $171.33, with several firms raising their price targets significantly.
• TKO Group recently announced a quarterly dividend of $0.38 per share, resulting in a 0.89% dividend yield for shareholders.

Choreo LLC trimmed its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 42.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,581 shares of the company's stock after selling 3,433 shares during the quarter. Choreo LLC's holdings in TKO Group were worth $700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TKO. Corient Private Wealth LLC boosted its position in shares of TKO Group by 2.8% in the fourth quarter. Corient Private Wealth LLC now owns 4,118 shares of the company's stock valued at $585,000 after acquiring an additional 112 shares during the period. LPL Financial LLC raised its position in shares of TKO Group by 10.0% in the fourth quarter. LPL Financial LLC now owns 37,518 shares of the company's stock valued at $5,332,000 after buying an additional 3,426 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TKO Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 6,681,087 shares of the company's stock valued at $949,449,000 after buying an additional 114,096 shares during the period. Norges Bank acquired a new stake in TKO Group during the fourth quarter worth approximately $104,613,000. Finally, New Age Alpha Advisors LLC bought a new position in TKO Group during the 4th quarter worth $520,000. 89.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In related news, Director Peter C. B. Bynoe acquired 980 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost 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 approximately $465,863.73. This trade represents a 55.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nick Khan sold 45,168 shares of TKO Group stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76. Following the transaction, the director directly owned 156,494 shares in the company, valued at $26,732,305.08. The trade was a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,725 shares of company stock worth $12,501,561. Company insiders own 53.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Northcoast Research cut shares of TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Sanford C. Bernstein started coverage on TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price for the company. The Goldman Sachs Group raised their target price on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Guggenheim boosted their price target on TKO Group from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, TKO Group has an average rating of "Moderate Buy" and a consensus target price of $171.33.

TKO Group Price Performance

TKO stock traded up $0.86 during midday trading on Monday, reaching $170.91. 534,845 shares of the stock were exchanged, compared to its average volume of 1,303,902. TKO Group Holdings, Inc. has a 52 week low of $102.46 and a 52 week high of $182.60. The company has a fifty day moving average price of $168.55 and a 200 day moving average price of $159.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $33.82 billion, a PE ratio of 86.76 and a beta of 0.73.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, beating 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 firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted ($1.26) earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.89%. TKO Group's dividend payout ratio (DPR) is presently 77.16%.

TKO Group 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.