Machina Capital S.A.S. Makes New $1.15 Million Investment in TKO Group Holdings, Inc. $TKO

Machina Capital S.A.S. purchased a new stake in TKO Group Holdings, Inc. (NYSE:TKO) during the second quarter, HoldingsChannel.com reports. The firm purchased 6,314 shares of the company’s stock, valued at approximately $1,149,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of TKO Group by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock worth $1,218,951,000 after buying an additional 1,295,817 shares during the period. Invesco Ltd. increased its stake in TKO Group by 569.7% during the first 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 increased its stake in TKO Group by 242.6% during the first 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 holdings in shares of 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 purchasing an additional 611,233 shares during the period. Finally, Congress Asset Management Co. acquired a new position in shares of TKO Group in the 2nd quarter valued at about $82,056,000. 89.79% of the stock is owned by hedge funds and other institutional investors.

TKO Group Trading Down 0.3%

TKO opened at $187.89 on Tuesday. The firm’s 50 day moving average is $193.34 and its 200-day moving average is $177.16. TKO Group Holdings, Inc. has a 52-week low of $115.12 and a 52-week high of $212.49. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $37.26 billion, a P/E ratio of 77.64 and a beta of 0.76.

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

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 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, September 15th. TKO Group’s payout ratio is 125.62%.

TKO Group announced that its board has authorized a share repurchase program on Monday, September 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TKO shares. Northcoast Research downgraded shares of TKO Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of TKO Group in a research report on Tuesday, October 14th. 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 note on Tuesday, August 12th. Morgan Stanley lifted their target price on shares of TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Finally, UBS Group increased their price target on TKO Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, TKO Group has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Insider Transactions at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe acquired 740 shares of the stock in a transaction on Tuesday, September 16th. The stock was purchased at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the purchase, the director directly owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nick Khan sold 9,519 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $197.82, for a total value of $1,883,048.58. Following the completion of the transaction, the director directly owned 128,023 shares in the company, valued at approximately $25,325,509.86. The trade was a 6.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 61.30% of the stock is currently owned by insiders.

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.