Corebridge Financial Inc. Decreases Position in TKO Group Holdings, Inc. $TKO

Key Points

• Corebridge Financial Inc. reduced its holdings in TKO Group Holdings by 78.2% in the first quarter, selling 59,068 shares and retaining 16,437 shares valued at approximately $2.5 million.
• Analysts have a consensus rating of "Moderate Buy" for TKO Group, with recent target prices raised by Guggenheim and Roth Capital, now ranging between $205 and $210.
• TKO Group reported a 53.7% year-over-year increase in revenue, with quarterly earnings missing consensus estimates, reporting an EPS of $1.17 compared to the expected $1.23.

Corebridge Financial Inc. trimmed its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 78.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,437 shares of the company's stock after selling 59,068 shares during the period. Corebridge Financial Inc.'s holdings in TKO Group were worth $2,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of TKO Group by 19.4% in the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock worth $1,218,951,000 after buying an additional 1,295,817 shares in the last quarter. Ninety One UK Ltd raised its holdings in TKO Group by 2.1% during the 1st quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock valued at $647,727,000 after buying an additional 87,165 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of TKO Group by 12.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company's stock valued at $299,961,000 after acquiring an additional 210,469 shares during the period. Ameriprise Financial Inc. raised its stake in shares of TKO Group by 57.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock valued at $238,574,000 after acquiring an additional 611,178 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in TKO Group by 242.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock worth $228,675,000 after purchasing an additional 1,059,636 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

TKO Group Stock Performance

TKO Group stock traded up $3.64 during mid-day trading on Thursday, hitting $190.25. The company had a trading volume of 785,694 shares, compared to its average volume of 1,247,958. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. TKO Group Holdings, Inc. has a 12-month low of $113.16 and a 12-month high of $194.76. The company's fifty day moving average is $176.21 and its 200-day moving average is $163.65. The company has a market capitalization of $37.73 billion, a price-to-earnings ratio of 78.62 and a beta of 0.79.

TKO Group (NYSE:TKO - Get Free Report) last announced 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). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the company posted $0.72 earnings per share. The business's quarterly revenue was up 53.7% on a year-over-year basis. Equities research analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.76 per share. This is an increase from TKO Group's previous quarterly dividend of $0.38. This represents a $3.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, September 15th. TKO Group's dividend payout ratio (DPR) is currently 62.81%.

Analysts Set New Price Targets

TKO has been the topic of a number of research reports. UBS Group raised their target price on shares of TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. The Goldman Sachs Group boosted their price target on TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Guggenheim boosted their price objective on shares of TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Sanford C. Bernstein initiated coverage on TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price target on the stock. Finally, Roth Capital boosted their price target on TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, TKO Group currently has an average rating of "Moderate Buy" and a consensus target price of $189.69.

Insider Transactions at TKO Group

In other TKO Group news, Director Nick Khan sold 45,168 shares of the stock in a transaction that occurred on 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 transaction, the director owned 156,494 shares in the company, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 64,206 shares of company stock worth $10,993,180 in the last quarter. Corporate insiders own 53.80% of the company's stock.

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.