TKO Group Holdings, Inc. $TKO Shares Sold by Boothbay Fund Management LLC

Key Points

• Boothbay Fund Management LLC has reduced its stake in TKO Group Holdings, Inc. by 41.5%, now holding 52,266 shares valued at approximately $7.99 million.
• Multiple hedge funds have increased their positions in TKO Group, with notable investments including Deutsche Bank AG, which raised its holdings by 1,425.9%.
• TKO Group recently declared a quarterly dividend of $0.76, up from $0.38, representing an annual yield of 1.6%.

Boothbay Fund Management LLC lowered its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 41.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,266 shares of the company's stock after selling 37,097 shares during the period. Boothbay Fund Management LLC's holdings in TKO Group were worth $7,987,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in TKO Group by 19.4% during 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. Invesco Ltd. lifted its holdings in shares of TKO Group by 569.7% in the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company's stock worth $217,457,000 after acquiring an additional 1,210,563 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 acquiring an additional 1,059,636 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of TKO Group in the 1st quarter worth approximately $71,834,000. Finally, Steadfast Capital Management LP raised its holdings in TKO Group by 146.9% during the 4th quarter. Steadfast Capital Management LP now owns 710,784 shares of the company's stock valued at $101,010,000 after buying an additional 422,900 shares during the last quarter. Institutional investors own 89.79% of the company's stock.

Analysts Set New Price Targets

TKO has been the topic of several research reports. Bank of America lifted their price target on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Sanford C. Bernstein started coverage on shares of TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price on the stock. UBS Group lifted 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. JPMorgan Chase & Co. increased their price target on shares of TKO Group from $182.00 to $212.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Finally, The Goldman Sachs Group increased their price target on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $192.21.

Insider Transactions at TKO Group

In other TKO Group news, Director Nick Khan sold 45,168 shares of TKO Group stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76. Following the transaction, the director owned 156,494 shares in the company, valued at $26,732,305.08. The trade was a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 73,725 shares of company stock valued at $12,767,807 in the last 90 days. 53.80% of the stock is owned by insiders.

TKO Group Price Performance

Shares of NYSE TKO traded up $6.52 during midday trading on Monday, reaching $200.52. 1,097,039 shares of the stock traded hands, compared to its average volume of 1,243,920. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $39.76 billion, a PE ratio of 82.86 and a beta of 0.78. TKO Group Holdings, Inc. has a one year low of $113.16 and a one year high of $200.71. The company's 50 day moving average is $176.78 and its 200 day moving average is $163.88.

TKO Group (NYSE:TKO - Get Free Report) last issued 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). The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.TKO Group's revenue was up 53.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.5%. This is a positive change from TKO Group's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 15th. TKO Group's payout ratio is presently 62.81%.

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.