Insider Buying: TKO Group (NYSE:TKO) Insider Buys 10,807 Shares of Stock

TKO Group Holdings, Inc. (NYSE:TKO) insider Mark Shapiro purchased 10,807 shares of TKO Group stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $185.05 per share, for a total transaction of $1,999,835.35. Following the completion of the transaction, the insider directly owned 129,207 shares in the company, valued at $23,909,755.35. The trade was a 9.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

TKO Group Trading Up 0.2%

Shares of NYSE:TKO traded up $0.38 during midday trading on Wednesday, hitting $183.71. The company had a trading volume of 885,614 shares, compared to its average volume of 1,210,616. TKO Group Holdings, Inc. has a 12 month low of $152.29 and a 12 month high of $226.94. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. The stock has a market cap of $35.66 billion, a price-to-earnings ratio of 68.55 and a beta of 0.57. The firm has a fifty day simple moving average of $195.25 and a 200 day simple moving average of $198.66.

TKO Group (NYSE:TKO) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $0.69 EPS. The firm’s revenue was up 25.9% on a year-over-year basis. On average, analysts predict that TKO Group Holdings, Inc. will post 5 EPS for the current year.

TKO Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, March 16th. This represents a $3.12 annualized dividend and a yield of 1.7%. TKO Group’s payout ratio is currently 116.42%.

Institutional Trading of TKO Group

Several hedge funds and other institutional investors have recently modified their holdings of TKO. Vontobel Holding Ltd. raised its stake in shares of TKO Group by 108,668.4% in the 4th quarter. Vontobel Holding Ltd. now owns 1,268,239 shares of the company’s stock valued at $265,062,000 after purchasing an additional 1,267,073 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of TKO Group by 54.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,185,769 shares of the company’s stock valued at $665,826,000 after purchasing an additional 1,128,749 shares during the period. State Street Corp raised its stake in shares of TKO Group by 20.3% in the 3rd quarter. State Street Corp now owns 5,249,091 shares of the company’s stock valued at $1,060,106,000 after purchasing an additional 887,401 shares during the period. Norges Bank acquired a new stake in shares of TKO Group in the 4th quarter valued at about $150,602,000. Finally, Alliancebernstein L.P. raised its stake in shares of TKO Group by 551.8% in the 2nd quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock valued at $90,059,000 after purchasing an additional 419,021 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TKO. TD Cowen lifted their target price on TKO Group from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Citigroup lowered TKO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. JPMorgan Chase & Co. lifted their target price on TKO Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Citizens Jmp began coverage on TKO Group in a report on Monday, March 30th. They set a “mkt outperform” rating and a $240.00 target price on the stock. Finally, Sanford C. Bernstein reduced their target price on TKO Group from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.73.

About TKO Group

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.