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

TKO Group Holdings, Inc. (NYSE:TKO) declared a quarterly dividend on Friday, May 30th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, June 13th.

TKO Group has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Research 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%

NYSE:TKO opened at $164.55 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $157.00 and a 200-day moving average of $152.11. The firm has a market capitalization of $32.56 billion, a PE ratio of -391.78 and a beta of 0.70. TKO Group has a 52 week low of $100.76 and a 52 week high of $179.09.

TKO Group (NYSE:TKO) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.07 billion. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. During the same quarter in the previous year, the firm posted ($1.26) EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that TKO Group will post 3.88 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TKO shares. Seaport Res Ptn raised shares of TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of TKO Group from $158.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Guggenheim upped their target price on shares of TKO Group from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Benchmark restated a “hold” rating on shares of TKO Group in a research note on Monday, March 3rd. Finally, Susquehanna initiated coverage on TKO Group in a report on Monday, April 28th. They set a “positive” rating and a $180.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and an average price target of $168.08.

Insider Activity at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe purchased 980 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director now owns 2,747 shares of the company’s stock, valued at $465,863.73. The trade was a 55.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the acquisition, the insider now directly owns 4,158,517 shares in the company, 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. Insiders have purchased 1,580,293 shares of company stock worth $250,199,446 over the last quarter. 53.80% of the stock is currently owned by company insiders.

Institutional Trading of TKO Group

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in shares of TKO Group in the first quarter valued at $46,000. Geneos Wealth Management Inc. grew its holdings in shares of TKO Group by 127.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 510 shares of the company’s stock worth $78,000 after acquiring an additional 286 shares during the last quarter. Amundi grew its holdings in shares of TKO Group by 338.7% in the 1st quarter. Amundi now owns 1,360 shares of the company’s stock worth $205,000 after acquiring an additional 1,050 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of TKO Group during the first quarter worth $218,000. Finally, AQR Capital Management LLC raised its position in shares of TKO Group by 10.7% during the first quarter. AQR Capital Management LLC now owns 7,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 696 shares during the period. 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.