Voya Investment Management LLC Has $3.65 Million Stock Position in TKO Group Holdings, Inc. $TKO

Key Points

• Voya Investment Management LLC increased its stake in TKO Group Holdings by 82.8% in the first quarter, owning $3.65 million worth of shares after acquiring over 10,000 additional shares.
• Several analysts have raised their price targets for TKO Group, with estimates ranging from $190.00 to $235.00, reflecting strong investor interest and a general "buy" sentiment.
• TKO Group announced a dividend increase to $0.76 per share, up from $0.38, along with a $1 billion stock repurchase program signaling confidence in its share valuation.

Voya Investment Management LLC grew its stake in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 82.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,903 shares of the company's stock after acquiring an additional 10,828 shares during the period. Voya Investment Management LLC's holdings in TKO Group were worth $3,653,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TKO. Sentry Investment Management LLC bought a new stake in TKO Group in the first quarter valued at approximately $25,000. Hemington Wealth Management boosted 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 acquiring an additional 136 shares during the period. N.E.W. Advisory Services LLC bought a new position in TKO Group during the 1st quarter worth $26,000. Bartlett & CO. Wealth Management LLC bought a new stake in TKO Group in the 1st quarter valued at about $27,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company's stock valued at $33,000 after buying an additional 122 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TKO shares. Bank of America raised their price target on TKO Group from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Sanford C. Bernstein began coverage on shares of TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price objective on the stock. UBS Group upped their price target on shares of TKO Group from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup upped their price target on shares of TKO Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Finally, Seaport Res Ptn downgraded shares of TKO Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $196.50.

Insider Activity at TKO Group

In other news, Director Nick Khan sold 9,519 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the completion of the sale, the director owned 137,456 shares in the company, valued at $25,625,922.08. This trade represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. B. Bynoe acquired 740 shares of TKO Group stock in a transaction on Tuesday, September 16th. The shares were purchased at an average cost of $203.00 per share, with a total value of $150,220.00. Following the completion of the acquisition, the director owned 5,187 shares of the company's stock, valued at $1,052,961. This trade represents a 16.64% increase in their position. 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 $12,767,807. 61.30% of the stock is currently owned by company insiders.

TKO Group Trading Down 0.7%

Shares of TKO Group stock opened at $201.28 on Friday. TKO Group Holdings, Inc. has a 52 week low of $114.01 and a 52 week high of $212.49. The stock has a 50 day moving average price of $181.83 and a two-hundred day moving average price of $166.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $39.91 billion, a PE ratio of 83.17 and a beta of 0.79.

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

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.76 dividend. This is a positive change from TKO Group's previous quarterly dividend of $0.38. This represents a $3.04 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 15th. TKO Group's payout ratio is presently 125.62%.

TKO Group declared that its board has authorized a stock repurchase program on Monday, September 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

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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