Chevy Chase Trust Holdings LLC Raises Position in TKO Group Holdings, Inc. $TKO

Chevy Chase Trust Holdings LLC grew its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,506 shares of the company’s stock after purchasing an additional 485 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in TKO Group were worth $6,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TKO. Vanguard Group Inc. lifted its holdings in shares of TKO Group by 19.4% during the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock valued at $1,218,951,000 after purchasing an additional 1,295,817 shares during the last quarter. Invesco Ltd. raised its stake in TKO Group by 569.7% in the 1st quarter. Invesco Ltd. now owns 1,423,052 shares of the company’s stock worth $217,457,000 after acquiring an additional 1,210,563 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in TKO Group by 242.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock worth $228,675,000 after acquiring an additional 1,059,636 shares during the last quarter. Ninety One UK Ltd raised its stake in TKO Group by 14.4% in the 2nd 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 during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in TKO Group in the 1st quarter worth $71,834,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Insider Transactions at TKO Group

In other news, Director Nick Khan sold 9,519 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $197.82, for a total transaction of $1,883,048.58. Following the sale, the director directly owned 128,023 shares in the company, valued at $25,325,509.86. This trade represents a 6.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. B. Bynoe bought 740 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the transaction, the director directly owned 5,187 shares in the company, valued at approximately $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 53.80% of the stock is owned by company insiders.

TKO Group Price Performance

Shares of TKO opened at $186.82 on Tuesday. The business’s 50-day moving average is $193.15 and its two-hundred day moving average is $174.01. The company has a market capitalization of $37.05 billion, a P/E ratio of 77.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. TKO Group Holdings, Inc. has a fifty-two week low of $114.01 and a fifty-two week high of $212.49.

TKO Group (NYSE:TKO) last announced its quarterly earnings results 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). The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.TKO Group’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Research analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group announced that its board has approved a share buyback plan on Monday, September 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.76 per share. This is a boost from TKO Group’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. TKO Group’s payout ratio is 125.62%.

Analysts Set New Price Targets

TKO has been the subject of a number of research analyst reports. Northcoast Research lowered TKO Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. Arete Research upgraded TKO Group to a “hold” rating in a research note on Wednesday, October 15th. Roth Capital raised their target price on TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Citigroup raised their target price on TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Finally, Robert W. Baird raised their target price on TKO Group from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.21.

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.