Cresset Asset Management LLC Acquires 329 Shares of TKO Group Holdings, Inc. $TKO

Cresset Asset Management LLC boosted its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,534 shares of the company’s stock after acquiring an additional 329 shares during the quarter. Cresset Asset Management LLC’s holdings in TKO Group were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ethic Inc. raised its position in TKO Group by 11.1% during the first quarter. Ethic Inc. now owns 8,470 shares of the company’s stock valued at $1,296,000 after acquiring an additional 846 shares in the last quarter. Aberdeen Group plc bought a new position in TKO Group during the first quarter valued at approximately $703,000. Horizon Investments LLC raised its position in TKO Group by 99.0% during the first quarter. Horizon Investments LLC now owns 1,879 shares of the company’s stock valued at $287,000 after acquiring an additional 935 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in TKO Group by 1,186.3% during the first quarter. Kovitz Investment Group Partners LLC now owns 19,770 shares of the company’s stock valued at $3,021,000 after acquiring an additional 18,233 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in TKO Group during the first quarter valued at approximately $5,082,000. Institutional investors own 89.79% of the company’s stock.

Insider Buying and Selling

In other TKO Group news, Director Peter C. B. Bynoe purchased 980 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the completion of the purchase, the director directly owned 2,747 shares of the company’s stock, valued at approximately $465,863.73. This represents a 55.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 on Tuesday, June 3rd. The shares were acquired at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the purchase, the insider directly owned 4,158,517 shares of the company’s stock, valued at approximately $658,376,411.44. This represents a 61.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 73,725 shares of company stock valued at $12,501,561. 53.80% of the stock is owned by company insiders.

TKO Group Trading Up 0.8%

Shares of TKO stock opened at $185.6470 on Monday. TKO Group Holdings, Inc. has a 1 year low of $113.16 and a 1 year high of $194.76. The firm’s fifty day simple moving average is $174.08 and its 200 day simple moving average is $162.77. The firm has a market capitalization of $36.81 billion, a P/E ratio of 76.71 and a beta of 0.72. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO) last announced 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 return on equity of 2.82% and a net margin of 5.40%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm posted $0.72 EPS. The company’s revenue was up 53.7% compared to the same quarter last year. As a group, sell-side analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given 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 62.81%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TKO shares. Morgan Stanley reaffirmed an “outperform” rating on shares of TKO Group in a research report on Sunday, August 10th. JPMorgan Chase & Co. lifted their price target on shares of TKO Group from $182.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group lifted their price target on shares of TKO Group from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Guggenheim lifted their price target on shares of TKO Group from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Finally, Bank of America lifted their price target on shares of TKO Group from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, TKO Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.69.

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.