Farther Finance Advisors LLC Grows Stake in TKO Group Holdings, Inc. $TKO

Farther Finance Advisors LLC grew its position in TKO Group Holdings, Inc. (NYSE:TKO) by 46.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 316 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Farther Finance Advisors LLC’s holdings in TKO Group were worth $58,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Simon Quick Advisors LLC increased its position in shares of TKO Group by 1.1% in the 1st quarter. Simon Quick Advisors LLC now owns 7,558 shares of the company’s stock valued at $1,155,000 after acquiring an additional 82 shares during the period. Pekin Hardy Strauss Inc. increased its position in shares of TKO Group by 3.2% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 3,210 shares of the company’s stock valued at $491,000 after acquiring an additional 100 shares during the period. Argonautica Private Wealth Management Inc. increased its position in shares of TKO Group by 4.0% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 2,837 shares of the company’s stock valued at $434,000 after acquiring an additional 108 shares during the period. Compass Capital Corp MA ADV increased its position in shares of TKO Group by 3.3% in the 1st quarter. Compass Capital Corp MA ADV now owns 3,444 shares of the company’s stock valued at $525,000 after acquiring an additional 109 shares during the period. Finally, UMB Bank n.a. increased its position in shares of TKO Group by 40.7% in the 1st quarter. UMB Bank n.a. now owns 384 shares of the company’s stock valued at $59,000 after acquiring an additional 111 shares during the period. 89.79% of the stock is owned by institutional investors and hedge funds.

TKO Group Stock Down 0.3%

TKO Group stock opened at $197.32 on Monday. 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 quick ratio of 1.30 and a current ratio of 1.30. The firm has a 50 day moving average price of $187.82 and a 200 day moving average price of $171.01. The company has a market capitalization of $39.13 billion, a PE ratio of 81.54 and a beta of 0.76.

TKO Group (NYSE:TKO) last posted its earnings results 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). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was up 53.7% on a year-over-year basis. Research analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

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

TKO Group Increases Dividend

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

Insider Activity at TKO Group

In related news, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total value of $1,774,627.17. Following the completion of the sale, the director owned 137,456 shares in the company, valued at approximately $25,625,922.08. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. B. Bynoe bought 740 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was bought at an average price 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. The trade was a 16.64% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 64,206 shares of company stock valued at $11,083,325 in the last quarter. 61.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TKO has been the topic of several research reports. Zacks Research raised TKO Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Roth Capital increased their price target on TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Baird R W raised shares of TKO Group to a “strong-buy” rating in a research note on Friday, September 5th. Robert W. Baird increased their target price on shares of TKO Group from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Finally, Citigroup increased their target price on shares of TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.14.

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.