Ninety One UK Ltd Purchases 611,233 Shares of TKO Group Holdings, Inc. $TKO

Ninety One UK Ltd raised its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,850,006 shares of the company’s stock after purchasing an additional 611,233 shares during the period. TKO Group accounts for approximately 2.1% of Ninety One UK Ltd’s portfolio, making the stock its 12th largest holding. Ninety One UK Ltd’s holdings in TKO Group were worth $882,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TKO. Vanguard Group Inc. grew its holdings in TKO Group by 19.4% during the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock valued at $1,218,951,000 after purchasing an additional 1,295,817 shares during the period. Invesco Ltd. grew its holdings in TKO Group by 569.7% during the first quarter. Invesco Ltd. now owns 1,423,052 shares of the company’s stock valued at $217,457,000 after purchasing an additional 1,210,563 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $228,675,000 after purchasing an additional 1,059,636 shares during the period. Sequoia Financial Advisors LLC bought a new position in TKO Group during the first quarter valued at $71,834,000. Finally, Congress Asset Management Co. bought a new position in TKO Group during the second quarter valued at $82,056,000. 89.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TKO. Sanford C. Bernstein began coverage on TKO Group in a report on Wednesday, June 4th. They issued an “outperform” rating and a $190.00 price target for the company. Seaport Res Ptn lowered TKO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Roth Capital raised their price target on TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. UBS Group raised their price target on TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Finally, Morgan Stanley raised their price target on TKO Group from $165.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

TKO Group Trading Down 1.7%

Shares of TKO stock opened at $201.91 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. TKO Group Holdings, Inc. has a 52-week low of $114.01 and a 52-week high of $212.49. The company has a market capitalization of $40.04 billion, a PE ratio of 83.43 and a beta of 0.79. The business’s fifty day moving average is $186.06 and its 200 day moving average is $169.81.

TKO Group (NYSE:TKO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $0.72 EPS. The company’s quarterly revenue was up 53.7% on a year-over-year basis. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.76 per share. The ex-dividend date was Monday, September 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.38. This represents a $3.04 dividend on an annualized basis and a yield of 1.5%. TKO Group’s dividend payout ratio (DPR) is 125.62%.

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

Insider Transactions at TKO Group

In other news, Director Peter C. B. Bynoe purchased 740 shares of the stock in a transaction on Tuesday, September 16th. The shares were acquired at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the transaction, the director directly owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. This trade represents a 16.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $186.43, for a total value of $1,774,627.17. Following the completion of the transaction, the director owned 137,456 shares in the company, valued at approximately $25,625,922.08. This represents a 6.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,725 shares of company stock worth $12,767,807 in the last 90 days. Company insiders own 53.80% of the company’s stock.

TKO Group 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.