TKO Group Holdings, Inc. $TKO Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its holdings in TKO Group Holdings by 1.1%, now owning 634,524 shares valued at approximately $115.5 million as of the latest SEC filing.
• TCK Group recently declared a quarterly dividend of $0.76 per share, up from the previous $0.38, representing an annualized dividend yield of 1.6%.
• The company initiated a $1.00 billion stock buyback program to repurchase up to 2.5% of its outstanding shares, indicating that the board believes the stock is undervalued.

TD Asset Management Inc cut its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 634,524 shares of the company's stock after selling 6,842 shares during the period. TD Asset Management Inc owned about 0.32% of TKO Group worth $115,452,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB grew its stake in shares of TKO Group by 13.2% during the second quarter. Wilmington Savings Fund Society FSB now owns 4,246 shares of the company's stock valued at $773,000 after acquiring an additional 496 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of TKO Group during the second quarter valued at about $260,000. Jag Capital Management LLC acquired a new stake in shares of TKO Group during the second quarter valued at about $13,244,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of TKO Group by 128.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,823 shares of the company's stock valued at $1,787,000 after acquiring an additional 5,514 shares in the last quarter. Finally, CWM LLC grew its stake in shares of TKO Group by 39.2% during the second quarter. CWM LLC now owns 742 shares of the company's stock valued at $135,000 after acquiring an additional 209 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

TKO Group Stock Performance

TKO opened at $190.02 on Wednesday. The business's 50 day moving average is $191.26 and its 200-day moving average is $172.80. The stock has a market cap of $37.68 billion, a PE ratio of 78.52 and a beta of 0.76. 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 twelve month low of $114.01 and a twelve month high of $212.49.

TKO Group (NYSE:TKO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share 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 net margin of 5.40% and a return on equity of 2.82%. The business's quarterly revenue was up 53.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. On average, analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

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

TKO Group declared that its board has initiated a stock buyback program on Monday, September 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TKO has been the subject of several recent analyst reports. Bank of America raised their target price on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Seaport Res Ptn cut shares of TKO Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Morgan Stanley increased their price target on shares of TKO Group from $165.00 to $205.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 25th. Citigroup increased their price target 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. Finally, UBS Group increased their price target on shares of TKO Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $206.07.

Insider Buying and Selling

In other TKO Group news, Director Peter C. B. Bynoe purchased 740 shares of the firm's stock in a transaction on Tuesday, September 16th. The shares were purchased at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the transaction, the director owned 5,187 shares in the company, valued at $1,052,961. This represents a 16.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nick Khan sold 45,168 shares of TKO Group 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 completion of the transaction, the director owned 156,494 shares in the company, valued at approximately $26,732,305.08. This trade represents a 22.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,725 shares of company stock worth $12,966,373 in the last quarter. Company insiders own 53.80% 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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