Aberdeen Group plc Cuts Holdings in TKO Group Holdings, Inc. $TKO

Aberdeen Group plc lowered its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 11.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,096 shares of the company’s stock after selling 516 shares during the period. Aberdeen Group plc’s holdings in TKO Group were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of TKO Group by 19.4% during the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock worth $1,218,951,000 after buying an additional 1,295,817 shares during the period. Ninety One UK Ltd grew its holdings in TKO Group by 14.4% during the 2nd quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company’s stock worth $882,459,000 after acquiring an additional 611,233 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of TKO Group by 12.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company’s stock valued at $299,961,000 after purchasing an additional 210,469 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of TKO Group by 242.6% in the 1st 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 in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of TKO Group by 569.7% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Stock Up 0.6%

Shares of NYSE:TKO opened at $188.98 on Friday. The stock has a market cap of $37.47 billion, a P/E ratio of 78.09 and a beta of 0.76. The firm has a fifty day moving average price of $193.02 and a 200 day moving average price of $173.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. 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 announced its earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the company posted $0.72 earnings per share. TKO Group’s quarterly revenue was up 53.7% on a year-over-year basis. Sell-side analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The business also recently disclosed 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. This represents a $3.04 dividend on an annualized basis and a 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 declared that its board has initiated a stock repurchase program on Monday, September 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TKO has been the subject of a number of analyst reports. Zacks Research upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Northcoast Research cut TKO Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 10th. Guggenheim increased their price objective on TKO Group from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Sanford C. Bernstein boosted their target price on TKO Group from $190.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, BTIG Research initiated coverage on TKO Group in a report on Monday, October 6th. They issued a “buy” rating and a $235.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.21.

Insider Activity at TKO Group

In other news, Director Nick Khan sold 45,168 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76. Following the transaction, the director owned 156,494 shares of the company’s stock, valued at approximately $26,732,305.08. The trade was a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. B. Bynoe purchased 740 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were bought at an average price of $203.00 per share, with a total value of $150,220.00. Following the purchase, the director directly owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. The trade was a 16.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 73,725 shares of company stock worth $12,966,373 over the last quarter. Company insiders own 61.30% 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.