TKO Group (NYSE:TKO) Hits New 52-Week High - What's Next?

Key Points

• TKO Group shares reached a new 52-week high of $201.20, with a trading volume of 364,331 shares, after closing at $195.13.
• Equities analysts have raised several price targets for TKO Group, with JPMorgan Chase setting a target of $212.00 and Citigroup increasing it to $225.00, while the average target price is currently $192.21.
• The company declared a quarterly dividend of $0.76, up from the previous $0.38, representing a 1.5% annualized yield, with an ex-dividend date of September 15th.

TKO Group Holdings, Inc. (NYSE:TKO - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $201.20 and last traded at $201.00, with a volume of 364331 shares changing hands. The stock had previously closed at $195.13.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group boosted their price target on TKO Group from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Guggenheim increased their target price on shares of TKO Group from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Seaport Res Ptn downgraded shares of TKO Group from a "strong-buy" rating to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective 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, Citigroup increased their price objective on shares of TKO Group from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 15th. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.21.

TKO Group Trading Up 3.7%

The firm's 50-day moving average is $177.91 and its 200 day moving average is $164.61. The firm has a market capitalization of $40.13 billion, a price-to-earnings ratio of 83.63 and a beta of 0.79. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm earned $0.72 EPS. The business's revenue for the quarter was up 53.7% compared to the same quarter last year. On average, equities analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

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

Insider Activity at TKO Group

In other news, Director Nick Khan sold 9,519 shares of the stock in a transaction 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 directly owned 137,456 shares in the company, valued at $25,625,922.08. This represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 73,725 shares of company stock valued at $12,767,807. Corporate insiders own 61.30% of the company's stock.

Institutional Trading of TKO Group

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in TKO Group by 19.4% in the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock worth $1,218,951,000 after purchasing an additional 1,295,817 shares in the last quarter. Invesco Ltd. increased its stake 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 valued at $217,457,000 after acquiring an additional 1,210,563 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of TKO Group by 242.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock valued at $228,675,000 after acquiring an additional 1,059,636 shares during the period. Norges Bank bought a new position in TKO Group during the second quarter worth $132,441,000. Finally, Ninety One UK Ltd boosted its stake in TKO Group by 14.4% during the second quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company's stock worth $882,459,000 after acquiring an additional 611,233 shares in the last quarter. 89.79% of the stock is currently 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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