TKO Group Holdings, Inc. (NYSE:TKO) Announces Quarterly Dividend of $0.38

TKO Group Holdings, Inc. (NYSE:TKO - Get Free Report) declared a quarterly dividend on Friday, May 30th, RTT News reports. Stockholders of record on Friday, June 13th will be paid a dividend of 0.38 per share on Monday, June 30th. This represents a $1.52 annualized dividend and a dividend yield of 0.96%.

TKO Group has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Analysts expect TKO Group to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 48.3%.

TKO Group Stock Up 0.7%

Shares of TKO Group stock traded up $1.05 during trading on Friday, hitting $157.79. 821,407 shares of the stock traded hands, compared to its average volume of 1,114,071. The firm has a market cap of $31.23 billion, a P/E ratio of -375.69 and a beta of 0.73. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. TKO Group has a 52-week low of $100.76 and a 52-week high of $179.09. The stock's fifty day simple moving average is $155.39 and its 200 day simple moving average is $150.36.

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 for the quarter, beating analysts' consensus estimates of $0.55 by $0.14. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned ($1.26) earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that TKO Group will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sonya E. Medina bought 233 shares of the stock in a transaction on Monday, March 17th. The shares were bought at an average cost of $142.93 per share, for a total transaction of $33,302.69. Following the purchase, the director now owns 2,000 shares of the company's stock, valued at $285,860. This trade represents a 13.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan Kraft bought 20,000 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $151.78 per share, for a total transaction of $3,035,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $3,035,600. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 23,733 shares of company stock valued at $3,561,318. Corporate insiders own 61.30% of the company's stock.

Institutional Trading of TKO Group

A number of institutional investors have recently modified their holdings of TKO. Acadian Asset Management LLC purchased a new stake in TKO Group during the first quarter worth $46,000. Geneos Wealth Management Inc. grew its stake in shares of TKO Group by 127.7% in the first quarter. Geneos Wealth Management Inc. now owns 510 shares of the company's stock valued at $78,000 after buying an additional 286 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of TKO Group in the first quarter valued at about $218,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TKO Group by 4,722.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,777 shares of the company's stock valued at $1,341,000 after purchasing an additional 8,595 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in TKO Group by 10.7% during the 1st quarter. AQR Capital Management LLC now owns 7,222 shares of the company's stock valued at $1,083,000 after purchasing an additional 696 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Seaport Res Ptn raised TKO Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Morgan Stanley upped their target price on TKO Group from $128.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. Benchmark reiterated a "hold" rating on shares of TKO Group in a research report on Monday, March 3rd. Finally, Pivotal Research restated a "buy" rating and issued a $195.00 target price (up from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $166.25.

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.