First Trust Advisors LP Has $12.30 Million Position in TKO Group Holdings, Inc. $TKO

First Trust Advisors LP lowered its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 15.2% during the first quarter, HoldingsChannel.com reports. The fund owned 61,002 shares of the company’s stock after selling 10,943 shares during the period. First Trust Advisors LP’s holdings in TKO Group were worth $12,301,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TKO. Fortis Capital Management LLC bought a new stake in shares of TKO Group in the 1st quarter valued at approximately $6,023,000. AlphaCentric Advisors LLC bought a new position in shares of TKO Group during the 1st quarter worth approximately $99,000. KBC Group NV lifted its position in shares of TKO Group by 1,200.6% during the 1st quarter. KBC Group NV now owns 24,919 shares of the company’s stock worth $5,025,000 after buying an additional 23,003 shares during the period. Dorsey Wright & Associates acquired a new stake in TKO Group in the 1st quarter valued at $1,657,000. Finally, Heartland Bank & Trust Co acquired a new stake in TKO Group in the 1st quarter valued at $473,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

TKO Group Price Performance

TKO opened at $183.53 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $35.63 billion, a P/E ratio of 68.48 and a beta of 0.60. The company’s 50 day simple moving average is $195.12 and its 200-day simple moving average is $197.85. TKO Group Holdings, Inc. has a one year low of $152.29 and a one year high of $226.94.

TKO Group (NYSE:TKO) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company posted $0.69 EPS. TKO Group’s revenue was up 25.9% on a year-over-year basis. Sell-side analysts anticipate that TKO Group Holdings, Inc. will post 4.92 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.79 dividend. This is an increase from TKO Group’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.16 annualized dividend and a dividend yield of 1.7%. TKO Group’s payout ratio is 117.91%.

Insider Transactions at TKO Group

In other news, Director Nick Khan sold 12,998 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $181.11, for a total transaction of $2,354,067.78. Following the completion of the sale, the director owned 48,933 shares in the company, valued at $8,862,255.63. The trade was a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew M. Schleimer purchased 2,696 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $185.44 per share, for a total transaction of $499,946.24. Following the purchase, the chief financial officer directly owned 30,240 shares of the company’s stock, valued at $5,607,705.60. This trade represents a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have purchased 24,308 shares of company stock worth $4,499,679 and have sold 51,775 shares worth $9,716,321. 64.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TKO. Sanford C. Bernstein lowered their price target on TKO Group from $240.00 to $235.00 and set an “outperform” rating on the stock in a research report on Tuesday. Zacks Research upgraded shares of TKO Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings upgraded shares of TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Roth Capital set a $228.00 target price on shares of TKO Group in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.53.

TKO Group 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.