Vestcor Inc Purchases New Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Key Points

• Vestcor Inc has acquired 5,783 shares of TKO Group Holdings, Inc., valued at approximately $884,000, marking its entry into the company's stock during the first quarter.
• TKO Group reported $1.27 billion in revenue for the quarter, surpassing analyst expectations, and had a notable 4.98% net margin.
• As of now, TKO Group boasts a market cap of $32.79 billion and a consensus rating of "Moderate Buy" with a price target averaging $171.33.

Vestcor Inc acquired a new position in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,783 shares of the company's stock, valued at approximately $884,000.

Several other large investors also recently bought and sold shares of TKO. Sentry Investment Management LLC acquired a new stake in shares of TKO Group in the first quarter worth approximately $25,000. N.E.W. Advisory Services LLC purchased a new position in TKO Group in the 1st quarter valued at $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in TKO Group during the 1st quarter worth $27,000. Farther Finance Advisors LLC grew its holdings in shares of 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 buying an additional 122 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of TKO Group by 229.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the company's stock valued at $37,000 after buying an additional 170 shares during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

TKO Group Stock Performance

NYSE TKO opened at $165.67 on Friday. The stock has a fifty day simple moving average of $169.36 and a 200-day simple moving average of $160.02. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.29. The stock has a market cap of $32.79 billion, a PE ratio of 84.10 and a beta of 0.72. TKO Group Holdings, Inc. has a twelve month low of $102.46 and a twelve month high of $182.60.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.07 billion. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. TKO Group's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.26) EPS. Equities analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.9%. TKO Group's dividend payout ratio (DPR) is presently 77.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TKO. The Goldman Sachs Group boosted 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. Sanford C. Bernstein initiated coverage on TKO Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $190.00 target price on the stock. Guggenheim upped their price target on TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Susquehanna began coverage on TKO Group in a report on Monday, April 28th. They issued a "positive" rating and a $180.00 price target for the company. Finally, Northcoast Research lowered TKO Group from a "buy" rating to a "neutral" rating in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TKO Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.33.

Insider Buying and Selling

In other TKO Group news, Director Nick Khan sold 45,168 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 156,494 shares of the company's stock, valued at $26,732,305.08. The trade was a 22.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. B. Bynoe purchased 980 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, with a total value of $166,198.20. Following the completion of the transaction, the director 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 quarter, insiders sold 73,725 shares of company stock valued at $12,501,561. Company insiders own 61.30% of the company's stock.

About TKO Group

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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