TKO Group Holdings, Inc. $TKO Shares Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in TKO Group Holdings by 128% during the 2nd quarter, owning a total of 9,823 shares valued at approximately $1.79 million.
• TKO Group's dividend was recently boosted to $0.76 per share, reflecting an annualized yield of 1.6%, and the company also initiated a $1 billion share buyback program.
• Multiple analysts have given TKO Group a consensus rating of "Moderate Buy", with target prices raised by firms like BTIG and Citigroup, reflecting positive market sentiment.

Envestnet Portfolio Solutions Inc. lifted its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 128.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,823 shares of the company's stock after purchasing an additional 5,514 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in TKO Group were worth $1,787,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TKO. Hemington Wealth Management grew its stake in shares of TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company's stock worth $25,000 after purchasing an additional 136 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of TKO Group in the first quarter worth approximately $26,000. Bartlett & CO. Wealth Management LLC purchased a new position in shares of TKO Group in the first quarter worth approximately $27,000. Farther Finance Advisors LLC increased its position in shares of TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock worth $33,000 after acquiring an additional 122 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of TKO Group in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 89.79% of the company's stock.

Insider Buying and Selling

In other TKO Group news, Director Peter C. B. Bynoe bought 740 shares of TKO Group stock in a transaction on Tuesday, September 16th. The stock was purchased at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the purchase, the director directly owned 5,187 shares of the company's stock, valued at $1,052,961. The trade was a 16.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $197.82, for a total transaction of $1,883,048.58. Following the completion of the sale, the director owned 128,023 shares of the company's stock, valued at $25,325,509.86. This trade represents a 6.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,725 shares of company stock valued at $12,966,373 over the last quarter. Corporate insiders own 61.30% of the company's stock.

Analysts Set New Price Targets

TKO has been the topic of several analyst reports. BTIG Research initiated coverage on shares of TKO Group in a research report on Monday, October 6th. They issued a "buy" rating and a $235.00 target price on the stock. Northcoast Research downgraded shares of TKO Group from a "buy" rating to a "neutral" rating in a research report on Thursday, July 10th. Sanford C. Bernstein lifted their target price on shares of TKO Group from $190.00 to $230.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Zacks Research raised shares of TKO Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Finally, Citigroup lifted their target price on shares of TKO Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.21.

TKO Group Stock Performance

TKO stock opened at $188.98 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $37.47 billion, a P/E ratio of 78.09 and a beta of 0.76. The firm has a 50 day simple moving average of $193.02 and a 200 day simple moving average of $173.42. TKO Group Holdings, Inc. has a 52 week low of $114.01 and a 52 week high of $212.49.

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). The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. TKO Group's revenue was up 53.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. Research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group declared that its Board of Directors has initiated a share buyback program on Monday, September 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.6%. This is a boost from TKO Group's previous quarterly dividend of $0.38. The ex-dividend date was Monday, September 15th. TKO Group's dividend payout ratio is presently 125.62%.

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.

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