Exchange Traded Concepts LLC Buys 1,054 Shares of TKO Group Holdings, Inc. $TKO

Exchange Traded Concepts LLC lifted its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,896 shares of the company’s stock after buying an additional 1,054 shares during the period. Exchange Traded Concepts LLC’s holdings in TKO Group were worth $1,437,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sentry Investment Management LLC bought a new stake in shares of TKO Group in the first quarter valued at about $25,000. Hemington Wealth Management lifted its stake in shares of TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock valued at $25,000 after buying an additional 136 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of TKO Group in the first quarter valued at about $26,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of TKO Group in the first quarter valued at about $27,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock valued at $33,000 after buying an additional 122 shares during the period. Institutional investors own 89.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Guggenheim increased their price target on shares of TKO Group from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Baird R W raised shares of TKO Group to a “strong-buy” rating in a research report on Friday, September 5th. Roth Capital lifted their price target on shares of TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Northcoast Research cut shares of TKO Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein started coverage on shares of TKO Group in a research report on Wednesday, June 4th. They set an “outperform” rating and a $190.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, TKO Group has an average rating of “Moderate Buy” and an average target price of $196.50.

TKO Group Stock Down 0.7%

TKO Group stock opened at $199.67 on Tuesday. The firm has a market capitalization of $39.59 billion, a PE ratio of 82.51 and a beta of 0.78. The company’s 50-day moving average is $182.34 and its 200-day moving average is $167.60. TKO Group Holdings, Inc. has a fifty-two week low of $114.01 and a fifty-two week high of $212.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30.

TKO Group (NYSE:TKO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.06). The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Sell-side analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s payout ratio is presently 125.62%.

TKO Group announced that its Board of Directors has approved a stock repurchase program on Monday, September 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Nick Khan sold 9,519 shares of TKO Group 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 completion of the sale, the director owned 137,456 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, Director Peter C. B. Bynoe bought 740 shares of TKO Group stock in a transaction that occurred on Tuesday, September 16th. The shares were bought at an average cost of $203.00 per share, with a total value of $150,220.00. Following the acquisition, the director directly owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 73,725 shares of company stock valued at $12,767,807 in the last ninety days. 53.80% of the stock is currently owned by insiders.

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.