TKO Group (NYSE:TKO) Rating Lowered to Neutral at Northcoast Research

Northcoast Research cut shares of TKO Group (NYSE:TKO - Free Report) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat Ratings reports.

TKO has been the topic of a number of other research reports. Susquehanna started coverage on TKO Group in a research report on Monday, April 28th. They issued a "positive" rating and a $180.00 price objective on the stock. Sanford C. Bernstein assumed coverage on TKO Group in a research note on Wednesday, June 4th. They set an "outperform" rating and a $190.00 price objective on the stock. Guggenheim upped their price target on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. lifted their price objective on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group lifted their price target on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $168.08.

TKO Group Stock Performance

Shares of TKO traded down $1.59 on Thursday, reaching $171.30. 343,157 shares of the company's stock traded hands, compared to its average volume of 1,123,098. TKO Group has a 52-week low of $102.46 and a 52-week high of $182.60. The stock's 50 day simple moving average is $167.49 and its two-hundred day simple moving average is $157.00. The stock has a market cap of $33.90 billion, a PE ratio of 86.93 and a beta of 0.73. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.29.

TKO Group (NYSE:TKO - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.14. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.07 billion. TKO Group had a return on equity of 2.52% and a net margin of 4.98%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted ($1.26) earnings per share. On average, analysts forecast that TKO Group will post 3.88 earnings per share for the current fiscal year.

TKO Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, June 13th. TKO Group's dividend payout ratio (DPR) is currently 77.16%.

Insider Buying and Selling

In related news, Director Peter C. B. Bynoe acquired 980 shares of TKO Group stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the transaction, the director directly owned 2,747 shares in the company, valued at approximately $465,863.73. This represents a 55.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.46, for a total transaction of $1,508,380.74. Following the sale, the director owned 210,967 shares in the company, valued at approximately $33,429,830.82. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. 61.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TKO Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TKO. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TKO Group by 21.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company's stock worth $2,836,000 after buying an additional 3,572 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in TKO Group in the first quarter worth approximately $1,163,000. Friedenthal Financial bought a new position in TKO Group in the first quarter worth approximately $895,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of TKO Group in the 1st quarter valued at about $464,000. Finally, Twin Tree Management LP boosted its holdings in shares of TKO Group by 147.0% in the 4th quarter. Twin Tree Management LP now owns 123,713 shares of the company's stock valued at $17,581,000 after buying an additional 73,617 shares in the last quarter. 89.79% of the stock is owned by institutional investors.

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.