Nick Khan Sells 9,519 Shares of TKO Group (NYSE:TKO) Stock

Key Points

• Director Nick Khan sold 9,519 shares of TKO Group at an average price of $197.82, totaling approximately $1.88 million, reducing his ownership to 128,023 shares.
• TKO Group reported a quarterly revenue of $1.31 billion, significantly up by 53.7% year-over-year, but missed EPS estimates by $0.06.
• The company announced a dividend increase to $0.76 per share and has a stock repurchase plan authorized for up to $1.00 billion in shares.

TKO Group Holdings, Inc. (NYSE:TKO - Get Free Report) Director Nick Khan sold 9,519 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $197.82, for a total value of $1,883,048.58. Following the completion of the transaction, the director directly owned 128,023 shares in the company, valued at $25,325,509.86. This represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Nick Khan also recently made the following trade(s):

• On Wednesday, September 3rd, Nick Khan sold 9,519 shares of TKO Group stock. The stock was sold at an average price of $186.43, for a total value of $1,774,627.17.
• On Tuesday, July 22nd, Nick Khan sold 9,519 shares of TKO Group stock. The stock was sold at an average price of $167.36, for a total value of $1,593,099.84.
• On Monday, July 21st, Nick Khan sold 45,168 shares of TKO Group stock. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76.

TKO Group Stock Performance

TKO Group stock traded up $0.11 during midday trading on Tuesday, hitting $198.26. 1,118,303 shares of the company were exchanged, compared to its average volume of 1,590,998. The firm has a market capitalization of $39.32 billion, a PE ratio of 81.93 and a beta of 0.76. TKO Group Holdings, Inc. has a fifty-two week low of $114.01 and a fifty-two week high of $212.49. The business has a fifty day simple moving average of $188.96 and a two-hundred day simple moving average of $171.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The firm's revenue for the quarter was up 53.7% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.76 dividend. The ex-dividend date of this dividend was Monday, September 15th. This is an increase from TKO Group's previous quarterly dividend of $0.38. This represents a $3.04 annualized dividend and a yield of 1.5%. TKO Group's dividend payout ratio is 125.62%.

TKO Group announced that its Board of Directors has approved a stock repurchase plan on Monday, September 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BTIG Research assumed coverage on TKO Group in a research report on Monday. They issued a "buy" rating and a $235.00 target price on the stock. Weiss Ratings restated a "hold (c)" rating on shares of TKO Group in a research report on Saturday, September 27th. Guggenheim raised their target price on TKO Group from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Friday. UBS Group raised their target price on TKO Group from $200.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Finally, Sanford C. Bernstein lifted their price objective on TKO Group from $190.00 to $230.00 and gave the stock an "outperform" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.07.

Institutional Investors Weigh In On TKO Group

A number of institutional investors have recently modified their holdings of TKO. Mirae Asset Global Investments Co. Ltd. acquired a new position in TKO Group during the 1st quarter worth $1,163,000. Friedenthal Financial purchased a new stake in TKO Group during the 1st quarter worth about $895,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in TKO Group during the 1st quarter worth about $464,000. Ninety One SA PTY Ltd lifted its holdings in TKO Group by 3.4% during the 1st quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company's stock worth $10,902,000 after buying an additional 2,330 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in TKO Group during the 1st quarter worth about $297,000. 89.79% of the stock is owned by institutional investors and hedge funds.

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.

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