TKO Group Holdings, Inc. $TKO Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in TKO Group Holdings, Inc. by 2.3% in the first quarter, holding approximately 0.39% of the company worth $101.8 million after selling 15,363 shares.
• Research firms have boosted target prices for TKO Group, with Citigroup raising its target from $200.00 to $225.00, while twelve other analysts maintained a "buy" rating.
• TKO Group's recent earnings report indicated a 53.7% revenue increase year-over-year, reporting $1.31 billion for the quarter but missing earnings per share estimates by $0.06.

Northern Trust Corp trimmed its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 666,495 shares of the company's stock after selling 15,363 shares during the quarter. Northern Trust Corp owned approximately 0.39% of TKO Group worth $101,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sentry Investment Management LLC purchased a new stake in TKO Group during the 1st quarter worth about $25,000. Hemington Wealth Management grew its holdings in shares of TKO Group by 425.0% during the first quarter. Hemington Wealth Management now owns 168 shares of the company's stock worth $25,000 after buying an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of TKO Group in the first quarter valued at approximately $26,000. Bartlett & CO. Wealth Management LLC purchased a new position in shares of TKO Group during the first quarter valued at approximately $27,000. Finally, Farther Finance Advisors LLC boosted its position in TKO Group by 129.8% during 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 during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TKO. Roth Capital lifted their target price on shares of TKO Group from $208.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Guggenheim lifted their price objective on TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Citigroup increased their target price on TKO Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Sanford C. Bernstein started coverage on TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 price target for the company. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, TKO Group has an average rating of "Moderate Buy" and an average target price of $189.69.

TKO Group Stock Performance

Shares of NYSE:TKO opened at $185.6470 on Friday. The business has a 50-day moving average of $174.08 and a two-hundred day moving average of $162.76. The firm has a market capitalization of $36.81 billion, a PE ratio of 76.71 and a beta of 0.72. 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 Holdings, Inc. has a 12 month low of $113.16 and a 12 month high of $194.76.

TKO Group (NYSE:TKO - Get Free Report) last issued 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 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 quarter in the previous year, the firm posted $0.72 EPS. The firm's revenue for the quarter was up 53.7% compared to the same quarter last year. As a group, research analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. TKO Group's dividend payout ratio is presently 62.81%.

Insider Activity

In related news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the completion of the transaction, the insider directly owned 4,158,517 shares of the company's stock, valued at $658,376,411.44. This trade represents a 61.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. B. Bynoe bought 980 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $169.59 per share, with a total value of $166,198.20. Following the transaction, the director directly owned 2,747 shares of the company's stock, valued at approximately $465,863.73. This trade represents a 55.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 73,725 shares of company stock valued at $12,501,561. Company insiders own 61.30% of the company's stock.

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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