Invesco Ltd. Buys 383,325 Shares of TKO Group Holdings, Inc. $TKO

Invesco Ltd. grew its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 26.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,806,377 shares of the company’s stock after acquiring an additional 383,325 shares during the period. Invesco Ltd.’s holdings in TKO Group were worth $328,670,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. LPL Financial LLC grew its holdings in TKO Group by 17.6% during the first quarter. LPL Financial LLC now owns 44,127 shares of the company’s stock valued at $6,743,000 after purchasing an additional 6,609 shares during the period. Mackenzie Financial Corp bought a new position in shares of TKO Group during the first quarter worth $330,000. US Bancorp DE grew its holdings in shares of TKO Group by 33.5% in the 1st quarter. US Bancorp DE now owns 754 shares of the company’s stock valued at $115,000 after buying an additional 189 shares during the period. PNC Financial Services Group Inc. increased its position in shares of TKO Group by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,364 shares of the company’s stock valued at $514,000 after buying an additional 125 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of TKO Group in the 1st quarter valued at $633,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe bought 740 shares of TKO Group stock in a transaction that occurred on Tuesday, September 16th. The stock was acquired at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the acquisition, the director owned 5,187 shares of the company’s stock, valued at $1,052,961. This trade represents a 16.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Shane Kapral sold 254 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $192.82, for a total transaction of $48,976.28. Following the completion of the transaction, the chief financial officer directly owned 1,774 shares of the company’s stock, valued at approximately $342,062.68. This trade represents a 12.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,319 shares of company stock valued at $5,673,717 over the last 90 days. 61.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TKO has been the topic of several recent analyst reports. Arete Research upgraded TKO Group to a “hold” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective on TKO Group from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Zacks Research cut TKO Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Robert W. Baird raised their target price on shares of TKO Group from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $222.85.

TKO Group Stock Up 0.6%

TKO stock opened at $202.10 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $39.43 billion, a P/E ratio of 77.43 and a beta of 0.65. The business has a 50-day moving average of $189.36 and a 200-day moving average of $181.40. TKO Group Holdings, Inc. has a fifty-two week low of $133.07 and a fifty-two week high of $212.49.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.11). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. TKO Group had a net margin of 5.27% and a return on equity of 2.57%. The firm’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. On average, sell-side analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

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

TKO Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from TKO Group’s previous quarterly dividend of $0.76. The ex-dividend date is Monday, December 15th. TKO Group’s dividend payout ratio is 116.48%.

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.