TKO Group Holdings, Inc. $TKO Holdings Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. grew its position in TKO Group Holdings, Inc. (NYSE:TKO) by 88.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,836 shares of the company’s stock after purchasing an additional 1,328 shares during the period. QRG Capital Management Inc.’s holdings in TKO Group were worth $516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hemington Wealth Management lifted its stake in shares of TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of TKO Group in the 1st quarter worth approximately $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of TKO Group in the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC lifted its stake in shares of TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock worth $33,000 after acquiring an additional 122 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of TKO Group in the 1st quarter worth approximately $38,000. Institutional investors own 89.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird increased their target price on shares of TKO Group from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. Morgan Stanley increased their target price on shares of TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, September 25th. Seaport Res Ptn lowered shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reissued a “hold (c)” rating on shares of TKO Group in a research note on Saturday, September 27th. Finally, UBS Group increased their target price on shares of TKO Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.07.

TKO Group Price Performance

NYSE TKO opened at $186.72 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $190.27 and a 200 day simple moving average of $172.14. The company has a market cap of $37.03 billion, a P/E ratio of 77.16 and a beta of 0.76. TKO Group Holdings, Inc. has a 1 year low of $114.01 and a 1 year high of $212.49.

TKO Group (NYSE:TKO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company posted $0.72 earnings per share. TKO Group’s quarterly revenue was up 53.7% on a year-over-year basis. On average, sell-side analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

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

TKO Group announced that its Board of Directors has approved a stock repurchase program on Monday, September 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at TKO Group

In other news, Director Peter C. B. Bynoe bought 740 shares of the company’s 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 transaction, the director directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Nick Khan sold 45,168 shares of the business’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the completion of the transaction, the director directly owned 156,494 shares of the company’s stock, valued at approximately $26,732,305.08. This represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,725 shares of company stock valued at $12,966,373 over the last ninety days. 61.30% of the stock is 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.