Sumitomo Mitsui DS Asset Management Company Ltd Purchases 38,695 Shares of TKO Group Holdings, Inc. $TKO

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in TKO Group Holdings by 368.8%, owning 49,186 shares now valued at approximately $8.95 million.
• TKO Group recently announced a quarterly dividend of $0.76 per share, up from the previous $0.38, reflecting a 1.5% yield on an annualized basis.
• Analyst ratings for TKO Group are largely positive, with one strong buy, fourteen buy ratings, and an average target price of $196.50.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 368.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,186 shares of the company's stock after acquiring an additional 38,695 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in TKO Group were worth $8,949,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sentry Investment Management LLC purchased a new stake in shares of TKO Group in the 1st quarter valued at approximately $25,000. Hemington Wealth Management lifted its position in shares of 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 acquiring an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of TKO Group in the 1st quarter valued at approximately $26,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of TKO Group in the 1st quarter valued at approximately $27,000. Finally, Farther Finance Advisors LLC lifted its position in shares of 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 acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

TKO Group Stock Down 0.7%

Shares of TKO traded down $1.44 during mid-day trading on Monday, hitting $199.67. 1,661,353 shares of the company's stock were exchanged, compared to its average volume of 1,070,426. The firm has a fifty day moving average of $182.34 and a two-hundred day moving average of $167.60. TKO Group Holdings, Inc. has a twelve month low of $114.01 and a twelve month high of $212.49. The stock has a market cap of $39.59 billion, a price-to-earnings ratio of 82.51 and a beta of 0.78. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company earned $0.72 EPS. The business's revenue for the quarter was up 53.7% compared to the same quarter last year. On average, sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid 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 annualized dividend and a dividend yield of 1.5%. TKO Group's dividend payout ratio (DPR) is currently 125.62%.

TKO Group announced that its board has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently commented on TKO. Guggenheim upped their price target on shares of TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Baird R W upgraded shares of TKO Group to a "strong-buy" rating in a research note on Friday, September 5th. UBS Group upped their price objective on shares of TKO Group from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Northcoast Research lowered shares of TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Finally, Roth Capital upped their price objective on shares of TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, TKO Group presently has a consensus rating of "Moderate Buy" and an average price target of $196.50.

Insider Buying and Selling at TKO Group

In other news, Director Peter C. B. Bynoe acquired 740 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was acquired at an average cost of $203.00 per share, with a total value of $150,220.00. Following the acquisition, the director owned 5,187 shares in the company, valued at approximately $1,052,961. This represents a 16.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nick Khan sold 45,168 shares of the company's stock in a transaction 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 sale, the director directly owned 156,494 shares of the company's stock, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,725 shares of company stock worth $12,767,807. 53.80% of the stock is currently owned by company insiders.

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.