TKO Group (NYSE:TKO) Cut to “Hold” at Seaport Res Ptn

Seaport Res Ptn cut shares of TKO Group (NYSE:TKO) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of TKO Group from $170.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Morgan Stanley reiterated an “outperform” rating on shares of TKO Group in a report on Sunday, August 10th. Guggenheim increased their price objective on TKO Group from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Baird R W upgraded TKO Group to a “strong-buy” rating in a report on Friday, September 5th. Finally, UBS Group increased their price objective on TKO Group from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, TKO Group presently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

TKO Group Trading Down 0.6%

Shares of NYSE TKO opened at $195.19 on Monday. The company’s fifty day moving average is $177.91 and its 200-day moving average is $164.61. The stock has a market cap of $38.71 billion, a price-to-earnings ratio of 80.66 and a beta of 0.79. TKO Group has a twelve month low of $113.16 and a twelve month high of $200.71. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company’s revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities research analysts predict that TKO Group will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.76 per share. This is a boost from TKO Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.04 annualized dividend and a yield of 1.6%. TKO Group’s payout ratio is presently 62.81%.

Insider Buying and Selling

In other TKO Group news, Director Nick Khan sold 9,519 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the sale, the director directly owned 137,456 shares of the company’s stock, valued at $25,625,922.08. The trade was a 6.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 73,725 shares of company stock worth $12,767,807. Insiders own 61.30% of the company’s stock.

Institutional Investors Weigh In On TKO Group

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TKO Group during the 1st quarter worth approximately $1,163,000. Friedenthal Financial bought a new position in shares of TKO Group during the 1st quarter worth approximately $895,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of TKO Group during the 1st quarter worth approximately $464,000. Ninety One SA PTY Ltd boosted its stake in shares of TKO Group by 3.4% during the 1st quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company’s stock worth $10,902,000 after acquiring an additional 2,330 shares during the period. Finally, Asset Management One Co. Ltd. bought a new position in shares of TKO Group during the 1st quarter worth approximately $297,000. 89.79% of the stock is owned by institutional investors.

TKO Group Company Profile

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.