TKO Group Holdings, Inc. (NYSE:TKO) Stock Holdings Lessened by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has significantly reduced its stake in TKO Group Holdings by 92.5%, dropping to 34,249 shares valued at approximately $5.2 million after selling more than 420,000 shares in the first quarter.
• TKO Group reported earnings of $0.69 per share, exceeding analyst expectations of $0.55, along with a revenue of $1.27 billion, which is higher than the anticipated $1.07 billion.
• Several analysts have updated their price targets for TKO Group, with Goldman Sachs raising its target to $188, while Northcoast Research downgraded the stock from "buy" to "neutral."

Victory Capital Management Inc. reduced its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 92.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,249 shares of the company's stock after selling 420,955 shares during the quarter. Victory Capital Management Inc.'s holdings in TKO Group were worth $5,234,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in TKO Group by 1.7% in the 4th 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. Ninety One UK Ltd raised its holdings in TKO Group by 2.1% during 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 in the last quarter. Independent Franchise Partners LLP boosted its holdings in TKO Group by 7.4% in the 4th quarter. Independent Franchise Partners LLP now owns 3,409,140 shares of the company's stock valued at $484,473,000 after purchasing an additional 235,420 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in TKO Group by 12.0% during the 1st 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 period. Finally, Ameriprise Financial Inc. increased its position in TKO Group by 57.3% during the 4th 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 period. Institutional investors and hedge funds own 89.79% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TKO. Susquehanna began coverage on TKO Group in a report on Monday, April 28th. They set a "positive" rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research note 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 initiated coverage on shares of TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price objective on the stock. Finally, The Goldman Sachs Group upped their price target on TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, TKO Group presently has a consensus rating of "Moderate Buy" and an average target price of $171.33.

TKO Group Trading Down 0.1%

Shares of TKO Group stock traded down $0.15 during mid-day trading on Wednesday, hitting $168.00. 516,656 shares of the stock were exchanged, compared to its average volume of 709,742. The stock has a market capitalization of $33.25 billion, a price-to-earnings ratio of 85.28 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 company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $168.96 and a 200 day simple moving average of $159.57.

TKO Group (NYSE:TKO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.07 billion. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.26) earnings per share. Research analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is presently 77.16%.

Insider Activity

In other TKO Group 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, with a total value of $166,198.20. Following the acquisition, the director directly owned 2,747 shares of the company's stock, valued at $465,863.73. This represents a 55.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of TKO Group stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the purchase, the insider owned 4,158,517 shares in the company, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 73,725 shares of company stock valued at $12,501,561. Company insiders own 61.30% of the company's stock.

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.