Maryland State Retirement & Pension System Sells 346 Shares of TKO Group Holdings, Inc. $TKO

Maryland State Retirement & Pension System lowered its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,341 shares of the company’s stock after selling 346 shares during the period. Maryland State Retirement & Pension System’s holdings in TKO Group were worth $608,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Triasima Portfolio Management inc. purchased a new position in shares of TKO Group during the second quarter valued at approximately $609,000. Highland Capital Management LLC boosted its position in shares of TKO Group by 35.8% during the second quarter. Highland Capital Management LLC now owns 37,877 shares of the company’s stock worth $6,892,000 after acquiring an additional 9,977 shares during the last quarter. O Keefe Stevens Advisory Inc. boosted its position in shares of TKO Group by 324.0% during the second quarter. O Keefe Stevens Advisory Inc. now owns 8,314 shares of the company’s stock worth $1,513,000 after acquiring an additional 6,353 shares during the last quarter. QRG Capital Management Inc. raised its stake in TKO Group by 88.1% during the second quarter. QRG Capital Management Inc. now owns 2,836 shares of the company’s stock valued at $516,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in TKO Group during the second quarter valued at $61,000. 89.79% of the stock is owned by hedge funds and other institutional investors.

TKO Group Price Performance

Shares of NYSE TKO opened at $188.64 on Tuesday. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $212.49. The firm has a market cap of $37.41 billion, a PE ratio of 77.95 and a beta of 0.76. The firm has a fifty day moving average of $190.73 and a 200 day moving average of $172.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30.

TKO Group (NYSE:TKO) last announced its quarterly earnings data 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 net margin of 5.40% and a return on equity of 2.82%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. As a group, research analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Increases Dividend

The company 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 represents a $3.04 annualized dividend and a yield of 1.6%. This is a positive change from TKO Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, September 15th. TKO Group’s dividend payout ratio is 125.62%.

TKO Group declared that its Board of Directors has initiated a share repurchase program on Monday, September 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Roth Capital increased their target price on shares of TKO Group from $208.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. BTIG Research started coverage on shares of TKO Group in a report on Monday, October 6th. They set a “buy” rating and a $235.00 target price on the stock. Sanford C. Bernstein increased their target price on shares of TKO Group from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Baird R W upgraded shares of TKO Group to a “strong-buy” rating in a report on Friday, September 5th. Finally, Citigroup raised their price target on shares of TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.07.

Insider Activity at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe bought 740 shares of the stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the transaction, the director owned 5,187 shares in the company, valued at approximately $1,052,961. The trade was a 16.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nick Khan sold 45,168 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the transaction, the director owned 156,494 shares in the company, valued at approximately $26,732,305.08. This trade represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,725 shares of company stock worth $12,966,373 over the last quarter. 53.80% of the stock is currently owned by insiders.

TKO Group 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.