Insider Selling: TKO Group (NYSE:TKO) Director Sells $2,354,067.78 in Stock

TKO Group Holdings, Inc. (NYSE:TKO) Director Nick Khan sold 12,998 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $181.11, for a total transaction of $2,354,067.78. Following the completion of the transaction, the director directly owned 48,933 shares of the company’s stock, valued at approximately $8,862,255.63. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nick Khan also recently made the following trade(s):

• On Monday, July 20th, Nick Khan sold 10,081 shares of TKO Group stock. The shares were sold at an average price of $183.56, for a total transaction of $1,850,468.36.
• On Monday, July 13th, Nick Khan sold 9,589 shares of TKO Group stock. The stock was sold at an average price of $182.63, for a total transaction of $1,751,239.07.
• On Friday, June 12th, Nick Khan sold 9,589 shares of TKO Group stock. The stock was sold at an average price of $207.56, for a total transaction of $1,990,292.84.
• On Monday, May 4th, Nick Khan sold 9,518 shares of TKO Group stock. The stock was sold at an average price of $185.99, for a total transaction of $1,770,252.82.

TKO Group Price Performance

Shares of NYSE TKO opened at $183.53 on Friday. The stock has a market capitalization of $35.63 billion, a price-to-earnings ratio of 68.48 and a beta of 0.60. The business has a 50-day moving average of $195.12 and a 200-day moving average of $197.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. TKO Group Holdings, Inc. has a fifty-two week low of $152.29 and a fifty-two week high of $226.94.

TKO Group (NYSE:TKO) last released its 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 quarter in the prior year, the company posted $0.69 earnings per share. TKO Group’s revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts predict that TKO Group Holdings, Inc. will post 4.92 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.79 dividend. This is a boost from TKO Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 15th. TKO Group’s dividend payout ratio (DPR) is 117.91%.

Analysts Set New Price Targets

A number of brokerages have commented on TKO. Guggenheim cut their price target on shares of TKO Group from $232.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. BTIG Research restated a “buy” rating and set a $237.00 price objective on shares of TKO Group in a research note on Wednesday. Citigroup lowered shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings raised shares of TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of TKO Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TKO Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.53.

Institutional Investors Weigh In On TKO Group

Hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. increased its holdings in shares of TKO Group by 108,668.4% in the fourth 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 last quarter. Massachusetts Financial Services Co. MA raised its position in shares of TKO Group by 54.9% in the fourth 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 lifted its stake in shares of TKO Group by 20.3% during the 3rd quarter. State Street Corp now owns 5,249,091 shares of the company’s stock worth $1,060,106,000 after buying an additional 887,401 shares during the last quarter. Norges Bank acquired a new stake in shares of TKO Group during the 4th quarter worth about $150,602,000. Finally, Alliancebernstein L.P. lifted its stake in shares of TKO Group by 551.8% during the 2nd quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock worth $90,059,000 after buying an additional 419,021 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

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.