Nick Khan Sells 37,425 Shares of TKO Group (NYSE:TKO) Stock

TKO Group Holdings, Inc. (NYSE:TKO) Director Nick Khan sold 37,425 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $204.01, for a total value of $7,635,074.25. Following the transaction, the director owned 122,868 shares of the company’s stock, valued at approximately $25,066,300.68. This represents a 23.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nick Khan also recently made the following trade(s):

• On Wednesday, December 3rd, Nick Khan sold 9,519 shares of TKO Group stock. The stock was sold at an average price of $195.16, for a total value of $1,857,728.04.
• On Monday, November 3rd, Nick Khan sold 9,519 shares of TKO Group stock. The stock was sold at an average price of $188.26, for a total value of $1,792,046.94.

TKO Group Stock Performance

Shares of NYSE TKO traded down $3.32 during trading on Monday, reaching $203.62. 1,279,534 shares of the company traded hands, compared to its average volume of 1,062,487. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $196.84 and a 200-day simple moving average of $188.53. TKO Group Holdings, Inc. has a 52-week low of $133.07 and a 52-week high of $218.11. The stock has a market capitalization of $39.72 billion, a PE ratio of 78.01 and a beta of 0.62.

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

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TKO Group’s payout ratio is currently 119.54%.

TKO Group announced that its Board of Directors has initiated a share repurchase plan on Monday, September 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of TKO Group

A number of large investors have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of TKO Group by 368.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,186 shares of the company’s stock worth $8,949,000 after purchasing an additional 38,695 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of TKO Group by 14.4% in the second quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company’s stock valued at $882,459,000 after purchasing an additional 611,233 shares during the period. Congress Asset Management Co. boosted its holdings in TKO Group by 20.9% during the third quarter. Congress Asset Management Co. now owns 545,079 shares of the company’s stock worth $110,084,000 after buying an additional 94,100 shares in the last quarter. Empowered Funds LLC purchased a new stake in TKO Group during the first quarter worth about $6,138,000. Finally, Royal Bank of Canada grew its position in TKO Group by 26.6% during the first quarter. Royal Bank of Canada now owns 115,502 shares of the company’s stock worth $17,650,000 after buying an additional 24,245 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TKO. BTIG Research increased their price target on shares of TKO Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, December 31st. TD Cowen increased their price target on shares of TKO Group from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Wolfe Research reissued an “outperform” rating and issued a $227.00 price objective on shares of TKO Group in a report on Monday, December 15th. Seaport Res Ptn raised shares of TKO Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Sanford C. Bernstein upped their price objective on shares of TKO Group from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, TKO Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

TKO Group Company Profile

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.