TKO Group Holdings, Inc. (NYSE:TKO) Stock Position Raised by LPL Financial LLC

Key Points

• LPL Financial LLC increased its position in TKO Group Holdings by 17.6%, acquiring an additional 6,609 shares during the 1st quarter, totaling $6.74 million in holdings.
• TKO Group reported a net margin of 5.40% with quarterly revenue of $1.31 billion, up 53.7% year-over-year, despite missing EPS estimates by $0.06.
• The company announced a $0.38 quarterly dividend, contributing to an annual yield of 0.8%, with a dividend payout ratio of 62.81%.

LPL Financial LLC lifted its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,127 shares of the company's stock after acquiring an additional 6,609 shares during the quarter. LPL Financial LLC's holdings in TKO Group were worth $6,743,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TKO. MRP Capital Investments LLC acquired a new position in TKO Group in the 1st quarter valued at approximately $956,000. HB Wealth Management LLC acquired a new position in TKO Group in the 1st quarter valued at approximately $220,000. Longbow Finance SA acquired a new position in TKO Group in the 1st quarter valued at approximately $4,821,000. Neo Ivy Capital Management increased its stake in TKO Group by 364.1% in the 1st quarter. Neo Ivy Capital Management now owns 10,108 shares of the company's stock valued at $1,545,000 after buying an additional 7,930 shares during the period. Finally, Assetmark Inc. increased its stake in TKO Group by 1.6% in the 1st quarter. Assetmark Inc. now owns 22,813 shares of the company's stock valued at $3,486,000 after buying an additional 366 shares during the period. Hedge funds and other institutional investors own 89.79% of the company's stock.

TKO Group Stock Performance

NYSE:TKO opened at $180.08 on Tuesday. TKO Group Holdings, Inc. has a 1 year low of $113.16 and a 1 year high of $182.60. The firm's fifty day simple moving average is $170.16 and its 200 day simple moving average is $160.94. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $35.64 billion, a PE ratio of 74.41 and a beta of 0.72.

TKO Group (NYSE:TKO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The business's quarterly revenue was up 53.7% compared to the same quarter last year. On average, sell-side analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.38 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. TKO Group's dividend payout ratio (DPR) is presently 62.81%.

Analysts Set New Price Targets

Several research firms have weighed in on TKO. UBS Group upped their price objective on shares of TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Sanford C. Bernstein began coverage on shares of TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Susquehanna began coverage on shares of TKO Group in a research note on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective on the stock. Finally, Morgan Stanley restated an "outperform" rating on shares of TKO Group in a research note on Sunday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $173.83.

Insider Activity at TKO Group

In other news, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were acquired at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the purchase, the insider owned 4,158,517 shares of the company's stock, valued at $658,376,411.44. This represents a 61.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. B. Bynoe bought 980 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the purchase, the director directly owned 2,747 shares in the company, valued at $465,863.73. The trade was a 55.46% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 73,725 shares of company stock worth $12,501,561. 53.80% of the stock is owned by 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.

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