TKO Group Holdings, Inc. $TKO Shares Purchased by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC increased its stake in TKO Group Holdings, Inc. by 12.6% during the second quarter, resulting in a total ownership of 15,836 shares valued at approximately $2.88 million.
• TKO Group recently announced a quarterly dividend increase to $0.76 per share, a significant rise from the previous dividend of $0.38, reflecting a commitment to returning value to shareholders.
• Analysts are optimistic about TKO Group, with the stock receiving numerous buy ratings and raising its target price, indicating strong growth potential in the future.

Park Avenue Securities LLC boosted its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,836 shares of the company's stock after purchasing an additional 1,776 shares during the quarter. Park Avenue Securities LLC's holdings in TKO Group were worth $2,881,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new position in TKO Group in the 1st quarter valued at $25,000. Hemington Wealth Management raised its stake in TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company's stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in TKO Group in the 1st quarter valued at $26,000. Bartlett & CO. Wealth Management LLC acquired a new position in TKO Group in the 1st quarter valued at $27,000. Finally, Farther Finance Advisors LLC raised its stake in TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after purchasing an additional 122 shares during the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In related news, Director Nick Khan sold 45,168 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the completion of the transaction, the director directly owned 156,494 shares in the company, valued at $26,732,305.08. This trade represents a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. B. Bynoe bought 740 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were purchased at an average price of $203.00 per share, with a total value of $150,220.00. Following the completion of the acquisition, the director directly owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 73,725 shares of company stock valued at $12,767,807 over the last 90 days. 53.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TKO shares. Seaport Res Ptn downgraded TKO Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Bank of America raised their target price on TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Morgan Stanley reaffirmed an "outperform" rating on shares of TKO Group in a research note on Sunday, August 10th. Roth Capital raised their target price on TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, Guggenheim raised their target price on TKO Group from $200.00 to $205.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TKO Group presently has a consensus rating of "Moderate Buy" and an average target price of $196.50.

TKO Group Stock Up 1.2%

Shares of NYSE:TKO opened at $202.04 on Wednesday. The business has a 50-day moving average price of $183.00 and a 200 day moving average price of $167.84. 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 company has a market capitalization of $40.06 billion, a price-to-earnings ratio of 83.49 and a beta of 0.78. TKO Group Holdings, Inc. has a 12-month low of $114.01 and a 12-month high of $212.49.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm's revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Sell-side analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group declared that its Board of Directors has approved a share repurchase plan on Monday, September 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.76 per share. This is a positive change from TKO Group's previous quarterly dividend of $0.38. The ex-dividend date is Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a yield of 1.5%. TKO Group's dividend payout ratio (DPR) is 125.62%.

TKO Group Company 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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