TKO Group (NYSE:TKO) Downgraded by Northcoast Research to Neutral

Northcoast Research downgraded 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 subject of several other research reports. Guggenheim boosted their target price on shares of TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group increased their price objective on shares of TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Sanford C. Bernstein began coverage on TKO Group in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price for the company. Susquehanna initiated coverage on TKO Group in a report on Monday, April 28th. They set a "positive" rating and a $180.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on TKO Group from $158.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $168.08.

TKO Group Stock Up 0.6%

Shares of TKO Group stock traded up $1.09 during trading on Thursday, reaching $172.89. The company had a trading volume of 902,835 shares, compared to its average volume of 1,126,149. The company has a market cap of $34.22 billion, a price-to-earnings ratio of 75.02 and a beta of 0.73. TKO Group has a fifty-two week low of $102.46 and a fifty-two week high of $182.60. The firm's fifty day moving average is $167.30 and its 200-day moving average is $156.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.25 and a current ratio of 1.25.

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

TKO Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.88%. TKO Group's dividend payout ratio (DPR) is 77.16%.

Insider Transactions at TKO Group

In other news, Director Nick Khan sold 9,519 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $176.96, for a total value of $1,684,482.24. Following the completion of the sale, the director owned 201,665 shares in the company, valued at $35,686,638.40. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were purchased at an average cost of $158.32 per share, with a total value of $249,999,945.60. Following the purchase, the insider directly owned 4,158,517 shares of the company's stock, valued at approximately $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 61.30% of the company's stock.

Institutional Investors Weigh In On TKO Group

Several hedge funds and other institutional investors have recently bought and sold shares of TKO. Exchange Traded Concepts LLC increased its holdings in shares of TKO Group by 15.4% in the second quarter. Exchange Traded Concepts LLC now owns 7,896 shares of the company's stock valued at $1,437,000 after buying an additional 1,054 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of TKO Group by 44.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,721 shares of the company's stock worth $659,000 after acquiring an additional 1,145 shares during the last quarter. Longboard Asset Management LP acquired a new stake in shares of TKO Group during the second quarter worth $208,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of TKO Group by 368.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,186 shares of the company's stock valued at $8,949,000 after purchasing an additional 38,695 shares during the last quarter. Finally, Czech National Bank lifted its holdings in shares of TKO Group by 7.1% during the second quarter. Czech National Bank now owns 16,385 shares of the company's stock valued at $2,981,000 after purchasing an additional 1,092 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors.

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.