Royal Bank of Canada Has $17.65 Million Stock Position in TKO Group Holdings, Inc. $TKO

Key Points

• The Royal Bank of Canada increased its stake in TKO Group Holdings by 26.6%, acquiring 24,245 additional shares during the first quarter, bringing its total ownership to approximately $17.65 million.
• TKO Group recently announced a quarterly dividend of $0.76, a significant increase from its previous dividend of $0.38, with investors set to receive this payment on September 30th.
• Analysts have raised their price targets for TKO Group, with Bank of America setting a new target of $210, indicating a strong positive outlook for the company's stock.

Royal Bank of Canada raised its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,502 shares of the company's stock after buying an additional 24,245 shares during the period. Royal Bank of Canada owned 0.07% of TKO Group worth $17,650,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new stake in TKO Group in the first quarter valued at approximately $25,000. Hemington Wealth Management boosted its position in TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company's stock valued at $25,000 after buying an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in TKO Group in the first quarter valued at approximately $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in TKO Group in the first quarter valued at approximately $27,000. Finally, Farther Finance Advisors LLC boosted its position in TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company's stock.

Insiders Place Their Bets

In other TKO Group news, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total value of $1,774,627.17. Following the completion of the sale, the director directly owned 137,456 shares of the company's stock, valued at approximately $25,625,922.08. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 73,725 shares of company stock valued at $12,767,807 over the last ninety days. Insiders own 61.30% of the company's stock.

TKO Group Trading Up 0.0%

NYSE TKO traded up $0.09 during mid-day trading on Friday, reaching $202.33. 897,072 shares of the stock were exchanged, compared to its average volume of 683,611. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $204.10. The stock has a 50 day simple moving average of $178.94 and a 200-day simple moving average of $165.22. The stock has a market cap of $40.12 billion, a P/E ratio of 83.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly 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). The business had revenue of $1.31 billion for 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 quarter in the previous year, the company posted $0.72 earnings per share. On average, analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.5%. This is an increase from TKO Group's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 15th. TKO Group's payout ratio is presently 62.81%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Northcoast Research downgraded shares of TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Morgan Stanley reaffirmed an "outperform" rating on shares of TKO Group in a research note on Sunday, August 10th. Guggenheim raised their price target on shares of TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Robert W. Baird assumed coverage on shares of TKO Group in a research note on Friday, September 5th. They set an "outperform" rating and a $225.00 price target for the company. Finally, Bank of America raised their price target on shares of TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $192.21.

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.