Ameriprise Financial Inc. Cuts Position in TKO Group Holdings, Inc. $TKO

Ameriprise Financial Inc. lessened its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 17.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,381,644 shares of the company’s stock after selling 296,614 shares during the quarter. Ameriprise Financial Inc.’s holdings in TKO Group were worth $211,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of TKO Group by 19.4% in the 1st 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 last quarter. Ninety One UK Ltd boosted its stake in shares of TKO Group by 2.1% in the 1st quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company’s stock worth $647,727,000 after buying an additional 87,165 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 worth $299,961,000 after buying 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 worth $228,675,000 after purchasing an additional 1,059,636 shares during the period. 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 worth $217,457,000 after purchasing an additional 1,210,563 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Analyst Upgrades and Downgrades

TKO has been the topic of a number of research reports. UBS Group lifted their price target on shares of TKO Group from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. The Goldman Sachs Group lifted their price target on shares of TKO Group from $170.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Roth Capital lifted 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. Citigroup lifted their price target on shares of TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, Sanford C. Bernstein initiated coverage on shares of TKO Group in a report on Wednesday, June 4th. They issued an “outperform” rating and a $190.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.69.

Insider Buying and Selling at TKO Group

In other news, Director Peter C. B. Bynoe purchased 980 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, with a total value of $166,198.20. Following the completion of the acquisition, the director owned 2,747 shares in the company, valued at $465,863.73. This trade represents a 55.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Lake West Voteco L.L.C Silver purchased 1,579,080 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was purchased at an average cost of $158.32 per share, for a total transaction of $249,999,945.60. Following the acquisition, the insider owned 4,158,517 shares of the company’s stock, valued at approximately $658,376,411.44. This trade represents a 61.22% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 73,725 shares of company stock valued at $12,501,561 in the last 90 days. 61.30% of the stock is currently owned by company insiders.

TKO Group Trading Up 0.8%

Shares of TKO stock opened at $185.6470 on Friday. The company’s fifty day simple moving average is $174.08 and its two-hundred day simple moving average is $162.75. 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 $113.16 and a 1 year high of $194.76. The stock has a market capitalization of $36.81 billion, a price-to-earnings ratio of 76.71 and a beta of 0.72.

TKO Group (NYSE:TKO) last issued its earnings results 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 net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $0.72 EPS. The company’s revenue was up 53.7% compared to the same quarter last year. As a group, analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. TKO Group’s payout ratio is presently 62.81%.

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.