Cullen Frost Bankers Inc. Buys Shares of 200 TKO Group Holdings, Inc. $TKO

Cullen Frost Bankers Inc. bought a new stake in TKO Group Holdings, Inc. (NYSE:TKO) during the second quarter, Holdings Channel.com reports. The firm bought 200 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds have also recently added to or reduced their stakes in TKO. Hemington Wealth Management boosted its position in TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after buying an additional 136 shares in the last quarter. Whittier Trust Co. boosted its position in TKO Group by 350.0% in the second quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after buying an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in TKO Group in the first quarter valued at approximately $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in TKO Group in the first quarter valued at approximately $27,000. Finally, Eastern Bank acquired a new stake in TKO Group in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director Nick Khan sold 9,519 shares of TKO Group 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 transaction, the director owned 137,456 shares of the company’s stock, valued at $25,625,922.08. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. B. Bynoe bought 740 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were purchased at an average cost of $203.00 per share, with a total value of $150,220.00. Following the purchase, the director directly owned 5,187 shares of the company’s stock, valued at $1,052,961. The trade was 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 NYSE TKO opened at $186.95 on Monday. TKO Group Holdings, Inc. has a twelve month low of $114.01 and a twelve month high of $212.49. The firm has a fifty day simple moving average of $192.94 and a 200 day simple moving average of $175.27. The company has a market capitalization of $37.07 billion, a PE ratio of 77.25 and a beta of 0.76. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business earned $0.72 EPS. TKO Group’s quarterly revenue was up 53.7% on a year-over-year basis. On average, sell-side analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group announced that its board has authorized a stock repurchase plan on Monday, September 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

TKO Group Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on TKO. Roth Capital raised their target price on shares of TKO Group from $208.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Guggenheim lifted their price target on shares of TKO Group from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Citigroup lifted their price target on shares of TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TKO Group in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, TKO Group has a consensus rating of “Moderate Buy” and a consensus target price of $210.21.

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.