TKO Group Holdings, Inc. $TKO Shares Purchased by Draper Asset Management LLC

Draper Asset Management LLC grew its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,979 shares of the company’s stock after acquiring an additional 182 shares during the quarter. TKO Group comprises approximately 0.3% of Draper Asset Management LLC’s investment portfolio, making the stock its 21st largest holding. Draper Asset Management LLC’s holdings in TKO Group were worth $534,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hemington Wealth Management increased its holdings in shares of TKO Group by 425.0% during the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of TKO Group by 350.0% during the second quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of TKO Group during the first quarter valued at about $26,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of TKO Group during the first quarter valued at about $27,000. Finally, Eastern Bank acquired a new position in shares of TKO Group during the second quarter valued at about $34,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Nick Khan sold 9,519 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the transaction, the director owned 137,456 shares in the company, valued at $25,625,922.08. This trade represents a 6.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. B. Bynoe bought 740 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 5,187 shares in the company, valued at approximately $1,052,961. This represents a 16.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 61.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TKO shares. Roth Capital increased their price target on shares of TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. increased their price target on shares of TKO Group from $182.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Guggenheim increased their price target on shares of TKO Group from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Bank of America increased their price target on shares of TKO Group from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, BTIG Research assumed coverage on shares of TKO Group in a research note on Monday, October 6th. They set a “buy” rating and a $235.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, TKO Group presently has an average rating of “Moderate Buy” and an average price target of $210.21.

TKO Group Price Performance

Shares of NYSE TKO opened at $187.22 on Friday. The stock has a market capitalization of $37.13 billion, a price-to-earnings ratio of 77.37 and a beta of 0.76. TKO Group Holdings, Inc. has a 12 month low of $114.01 and a 12 month high of $212.49. The firm’s 50 day simple moving average is $192.98 and its 200-day simple moving average is $174.51. 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 (NYSE:TKO) last issued its quarterly earnings data 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 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 analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $0.72 EPS. TKO Group’s revenue for the quarter was up 53.7% compared to the same quarter last year. Analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

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

TKO Group Increases Dividend

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

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.