Farther Finance Advisors LLC Raises Position in TKO Group Holdings, Inc. (NYSE:TKO)

Farther Finance Advisors LLC boosted its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 129.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216 shares of the company’s stock after buying an additional 122 shares during the period. Farther Finance Advisors LLC’s holdings in TKO Group were worth $33,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in TKO Group by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,289 shares of the company’s stock worth $66,691,000 after buying an additional 16,536 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of TKO Group by 21.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,953 shares of the company’s stock valued at $2,836,000 after purchasing an additional 3,572 shares during the last quarter. Twin Tree Management LP lifted its holdings in shares of TKO Group by 147.0% during the fourth quarter. Twin Tree Management LP now owns 123,713 shares of the company’s stock valued at $17,581,000 after purchasing an additional 73,617 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of TKO Group during the fourth quarter valued at approximately $431,000. Finally, Moore Capital Management LP lifted its holdings in shares of TKO Group by 1,625.0% during the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company’s stock valued at $59,443,000 after purchasing an additional 394,038 shares during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on TKO. JPMorgan Chase & Co. lifted their target price on shares of TKO Group from $158.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Pivotal Research reiterated a “buy” rating and set a $195.00 target price (up from $145.00) on shares of TKO Group in a report on Thursday, February 27th. Susquehanna began coverage on shares of TKO Group in a report on Monday, April 28th. They set a “positive” rating and a $180.00 target price for the company. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Benchmark reiterated a “hold” rating on shares of TKO Group in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TKO Group presently has a consensus rating of “Moderate Buy” and an average target price of $168.08.

TKO Group Price Performance

Shares of TKO opened at $176.85 on Wednesday. The company has a market capitalization of $35.00 billion, a P/E ratio of 89.77 and a beta of 0.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $162.28 and a 200 day moving average of $154.33. TKO Group Holdings, Inc. has a twelve month low of $102.46 and a twelve month high of $179.09.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.14. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned ($1.26) earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, June 13th. TKO Group’s dividend payout ratio (DPR) is presently 77.16%.

Insiders Place Their Bets

In related news, Director Nick Khan sold 9,519 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.46, for a total value of $1,508,380.74. Following the completion of the transaction, the director now owns 210,967 shares of the company’s stock, valued at approximately $33,429,830.82. This represents a 4.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. B. Bynoe bought 980 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $169.59 per share, with a total value of $166,198.20. Following the acquisition, the director now directly owns 2,747 shares in the company, valued at $465,863.73. This trade represents a 55.46% increase in their position. The disclosure for this purchase can be found here. 53.80% of the stock is currently owned by insiders.

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.